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US GETS MORE CHIPPY
Make America make chips again: The Commerce Department said yesterday it’ll send $1.5 billion to chipmaker GlobalFoundries to help it build a new factory near Albany, NY, and expand semiconductor production in Vermont. It’s the largest grant yet from the $39 billion piggy bank established by the 2022 CHIPS Act to bolster domestic chip manufacturing with direct subsidies.
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This is just the start: Even bigger CHIPS Act grants are expected to go out to chipmakers like Intel, Samsung, and TSMC in the coming weeks. While 37% of the world’s chips were made in America in 1990, that share is now just 12%.
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S: Morning Brew