Follow the money » CHIPS Act 2?| America's fab renaissance | China's answer: The Big Fund | TSMC Arizona
In 2022, the U.S. passed legislation to support its semiconductor industry called the U.S. CHIPS and Science Act. Officially H.R. 4346, the $280 billion spending package was signed into law by President Joe Biden to encourage the growth of the U.S. semiconductor industry -- and help win a burgeoning chip war with China. And in the waning days of the Biden administration, contracts are finally being inked.
Key beneficiaries
Intel: The U.S. will invest $7.86 billion in Intel, including $3.5 billion to boost the production of advanced chips for military and intelligence purposes.
TSMC: The U.S. has settled on $6.6 billion to support TSMC's efforts to build an enormous fab in Arizona.
Polar Semiconductor: A Minnesotan manufacturer of sensor and power semiconductors was the first company to be awarded under the CHIPS program.
GlobalFoundries: Headquartered in Malta, New York, the U.S. contract manufacturing giant will receive $1.5 billion in direct funding.
BAE Systems: $35 million will go to BAE to produce chips for fighter planes.
Latest about CHIPS and Science Act
Trump creates U.S. Investment Accelerator to manage CHIPS Act and 'negotiate much better deals'
President Trump established the U.S. Investment Accelerator office to manage CHIPS Act awards and make it easier for investors to build businesses within the U.S.
Elon Musk ally leading CHIPS Act office purge — only 14% of original staff remain after dismissals
Elon Musk ally Michael Grimes is leading the downsizing of the CHIPS and Science Act office.
Trump wants to kill the CHIPS Act — says chipmakers are coming to the USA to avoid tariffs
Trump tells the Senate President to get rid of the CHIPS Act and use the money allocated for it to reduce debt instead.
Trump purge hits Chips Act office, two-fifths of staff to be terminated
Two-fifths of the staff of the U.S. Chips Program Office are to be terminated, with 60 employees leaving today.
TSMC and Trump announce $100 billion investment in the US, including three fabs
President Donald Trump, alongside with TSMC CEO CC Wei, just announced in the White House that the company is investing $100 billion to expand its Arizona facility.
White House reviewing CHIPS Act awards, upcoming payments possibly delayed
The Trump administration has put CHIPS Act disbursements temporarily on hold as it reviews CHIPS Act awards to ensure that it conforms with its policies and the president's executive orders.
US introduces act to add tax credits for chip designers, extends credits for chip production, too
The STAR Act extends the semiconductor manufacturing tax credit beyond 2026 and expands it to include research and development.
Trump administration tipped to continue CHIPS and Science Act funding
Next U.S. Commerce Secretary reportedly plans to continue implementing CHIPS and Science Act program.
