Tuesday saw the historic signing by President Joe Biden of a bill providing $52.7 billion in subsidies for American semiconductor research and production as well as stepping up efforts to make the United States more competitive with China’s science and technology initiatives.
The measure is ‘a once-in-a-generation investment in America itself,’ according to Biden, who added that ‘the future is going to be made in America.’
Even though it’s unclear when the U.S. Commerce Department will write regulations for evaluating grant awards and how long it will take to fund projects, Biden praised the investments that chip companies are making.
To witness the signing of the long-awaited chips bill in Congress, some Republicans joined Biden on the lawn of the White House.
The signing was attended by lawmakers, the governors of Pennsylvania and Illinois, the mayors of Detroit, Cleveland, and Salt Lake City, as well as the CEOs of Micron, Intel, Lockheed Martin, HP, and Advanced Micro Devices.
According to the White House, new chip investments were encouraged by the bill’s passage. It mentioned that Qualcomm’s commitment to purchasing semiconductor chips totaled $7.4 billion from GlobalFoundries’ New York factory as of Monday, bringing its total commitment to that point.
Post Your Comments