U.S. president signs the CHIPS Act to subsidize local semiconductor manufacturing

U.S. president Joe Biden this week signed the CHIPS Act supporting semiconductor manufacturing in the U.S., paving the way to funnel nearly US$280 billion into numerous U.S-based chip making projects. It earmarks $52 billion to spur research in and development of America’s semiconductor industry.

The bill intends to tackle the global chip shortage that resulted from the strained US-China relations, extreme weather, and the ongoing Russia-Ukraine War, aiming to reinstate local manufacturing, lower costs for Americans and bolster scientific innovation and jobs.

Would you recommend this article?


Thanks for taking the time to let us know what you think of this article!
We'd love to hear your opinion about this or any other story you read in our publication.

Jim Love, Chief Content Officer, IT World Canada

Featured Download

CDN in your inbox

CDN delivers a critical analysis of the competitive landscape detailing both the challenges and opportunities facing solution providers. CDN's email newsletter details the most important news and commentary from the channel.

Big Bytes

Related Bytes