Biden offers chipmakers $52 billion in subsidies to build fabs in the US
While South Africans recognised Women’s Day, the US was making moves to address the semi-conductor shortage and steal away some dominance in the tech space from China.
The act will make $280 billion in subsidies available to stoke the semi-conductor sector in the US. As reported by, $52 billion of that figure is set aside specifically to boost semi-conductor manufacturing in the US. These subsidies will be made available over the next decade and the Department of Commerce will dictate the terms of the subsidies.
“And, as we saw during the pandemic, when factories that make these chips shut down, the global economy comes to a screeching halt, driving up costs for families and everyone — not just here, but around the world,” BidenOf course, this wasn’t the only trigger that pushed this act into being. Intel reportedly approached the US Department of Commerce to take over an abandoned factory in China to produced chips.
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