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US expects to make multi-billion chips awards within next year

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US expects to make multi-billion chips awards within next year
Reuters
Reuters
December 11, 2023

NASHUA, New Hampshire (Reuters) - U.S. Commerce Secretary Gina Raimondo said Monday she expects to make around a dozen semiconductor chips funding awards within the next year, including multi-billion dollar announcements that could reshape U.S. chips production.

She announce the first award Monday -- $35 million to a BAE Systems facility in Hampshire to produce chips for fighter planes from the $52.7 billion "Chips for America" semiconductor manufacturing and research subsidy program approved by Congress in August 2022. "Next year we'll get into some of the bigger ones with leading edge fabs," Raimondo told reporters. "A year from now I think we will have made 10 or 12 similar announcements, some of them multi-billion dollar announcements."

(Reporting by David Shepardson)

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