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Government Funding Could Help Set Up 'Seven to 10 New Chip Factories'


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U.S. President Joe Biden holds a semiconductor while discussing chip subsidies earlier this year.

Commerce Secretary Gina Raimondo said the U.S. government's proposed $52 billion funding for microchip research and production could help establish seven to 10 new chip fabrication plants in the U.S.

Credit: Reuters

The U.S. government's proposed $52 billion funding for microchip research and production could help establish seven to 10 new chip fabrication plants in the U.S.

"We just need the federal money ... to unlock private capital," U.S. Commerce Secretary Gina Raimondo said at an event outside a Micron Technology chip factory.

"It could be seven, could be eight, could be nine, could be 10 new factories in America by the time we're done," she added.

Raimondo said government funding could help generate "$150 billion-plus" investment in chip research and production, including contributions from state and federal governments and private firms.

From Computing (U.K.)
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