"US Semiconductor Funding Surges as Biden Marks CHIPS Act Anniversary"
Over 460 companies have expressed interest in winning government semiconductor subsidy funding in the US, as part of the "Chips for America" legislation signed by President Joe Biden. The legislation provides $52.7 billion in subsidies for U.S. semiconductor production, research, and workforce development. The Commerce Department has not yet issued awards but expects to announce major progress in the coming months. The law also includes a 25% investment tax credit for building chip plants and dedicates $11 billion for advanced semiconductor manufacturing research and development. The US aims to boost its competitiveness with China's science and technology efforts.