US Expects To Make Multi-Billion Chips Awards Within the Next Year

David Shepardson reports via Reuters: U.S. Commerce Secretary Gina Raimondo said she expects to make around a dozen semiconductor chips funding awards within the next year, including multi-billion dollar announcements that could drastically reshape U.S. chip production. She announced the first award on Monday -- $35 million to a BAE Systems facility in Hampshire to produce chips for fighter planes from the "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." In an interview with Reuters, Raimondo said that the number of awards could go higher than 12. She said she wants the percentage of semiconductors produced in the United States to rise from about 12% to closer to 20% -- though that is still down from 40% in 1990 -- and to have at least two "leading-edge" U.S. manufacturing clusters. In addition, she wants the U.S. to have cutting-edge memory and packaging production and to "meet the military's needs for current and mature" chips. Raimondo noted that the U.S. currently does not have any cutting-edge manufacturing production and wants to get that to about 10%.

This headline makes no sense

[innocent_white_lamb]

The headline on this article makes no sense.

What in the world is "Multi-Billion Chips Awards" and why is it important that the US is expecting to start making them?

A new Multi-Billion Chips Awards manufacturing company is being established somewhere?

???

Re:

[NFN_NLN]

Here at slashdot we use the term RTFM because no one reads the f'ing article. But you sir, took the slashdot torch for your generation and ran with it. To the hell with articles... and now screw summaries too. RTFS FTW.

Re:

[LifesABeach]

tag line.
damn.
i just spit coffee all over my keyboard.
i guess i have been playing modern warfare zombies to long

INTC

[NFN_NLN]

>> Companies like Intel (INTC.O), Micron (MU.O), GlobalFoundries (GFS.O) are among those seeking significant funding from the chip program.

>> Congress has allocated $39 billion for manufacturing incentives to encourage companies to build and expand facilities and awards can be a mix of grants, government loans or loan guarantees.

I'm no Nancy Pelosi so I can't invest in the smaller companies that will yield the highest jump, but I'm reasonably certain Intel will be one of the recipients. Looks l

Will it actually pan out?

[nightflameauto]

I have to wonder if there will be any sort of strings attached to these payments, or if our government is doing the same bullshit it always does when an industry gets government funding. "Here's the money guys. Make sure you actually do what you're told and don't, ya know, use it for stock buy backs and C-suite bonuses. Thnx." Record profits for the companies involved lead to massive bonuses, the work never gets done, they stick their hands out for more funding to do what they said they would do. It's been

Re:

[NFN_NLN]

https://www.ncbi.nlm.nih.gov/p... [nih.gov]
"US Taxpayers Heavily Funded the Discovery of COVID19 Vaccines"

Except for Pfizer because we LOVE big pharma at least that's what the Pfizer sponsored media told us, so it must be true.

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This comment was brought to you by Pfizer.

Hampshire?

[Shag]

While I'm sure BAE has facilities in Hamsphire as well, this particular one is in NEW Hampshire.

drop-in-the-bucket

[bitbang3r]

I don't think many people realize the cost to spin up even a trailing-edge fab is BILLIONS of dollars, 5-10 easily. I'm all for new R&D but don't think for a second this effort is going to chip away at any off-shore dependence any time soon.