✉news TechnologySemiconductors first seen 3 d ago, last 2 d ago, peak #10
Commerce Department Reallocates $955 Million in GlobalFoundries CHIPS Funding
Original: Commerce Dept. Reallocates Up to $955M in GlobalFoundries CHIPS Funding
The US Commerce Department has reallocated up to $955 million in CHIPS Act funding originally awarded to GlobalFoundries, one of the world's largest contract chipmakers. The move adjusts how federal semiconductor subsidies tied to the company's US expansion plans are distributed. The development is drawing attention given ongoing scrutiny of how CHIPS Act awards to major chipmakers are being managed and paid out.
Why now: Federal semiconductor subsidies under the CHIPS Act remain a high-profile policy issue, and any change to a large award attracts attention.
US Department of CommerceGlobalFoundriesCHIPS Act
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