U.S. Department of Commerce Signs Letter of Intent for $874 Million in Semiconductor Research Incentives
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- 1The U.S. Department of Commerce has signed a letter of intent for $874 million in incentives to seven companies developing AI and advanced-computing semiconductors
- 2Allocations include up to $300 million for GlobalFoundries, $245 million for Kepler, and $140 million for Multibeam, among others
- 3Funded by CHIPS Act money, the effort aims to bolster domestic production and reduce reliance on foreign suppliers; the government is set to take minority stakes in each company
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