Chip manufacturing subsidies expected to be announced in next eight weeks, Commerce Department says

February 12, 2024 /SemiMedia/ -- U.S. Commerce Secretary Gina Raimondo said on February 5 that it plans to provide multiple chip funding from the government’s $39 billion semiconductor manufacturing plan.

"We're in very complex and challenging negotiations with these companies. Over the next six to eight weeks, you'll see more announcements. That's what we're working toward," Raimondo said.

According to insiders, the grants to be announced amount to billions of dollars and are aimed at kick-starting the manufacturing of advanced semiconductors that power smartphones, artificial intelligence and weapons systems.