The $11 billion that's being spent on research and development, in a net sense, it's a large amount of money. But it's a small amount when you look at the global spend on R&D. So one of the things that the center aims to do is to level the playing field a little bit. And so it's aiming for this kind of virtuous cycle where both you'll have new ideas being tried, but also workers and the workforce being trained.
Since the CHIPS and Science Act passed in 2022, the US Commerce Department has been working to create a network of research and development sites around the country, as part of the National Semiconductor Technology Center. The goal: to rebuild America’s domestic semiconductor capacity and competitiveness.
Bloomberg reporter Eric Martin breaks down the CHIPS Act and what this tech center aims to accomplish. And Dr. Sarah Kreps, a government professor and Director of the Cornell University Tech Policy Institute, looks at the geopolitics and national security interests involved in moving US chip innovation forward.
Read more: Biden Is Setting Up an $11 Billion Chips Network to Bolster US National Security.
Listen to The Big Take podcast every weekday and subscribe to our daily newsletter: https://bloom.bg/3F3EJAK
Have questions or comments for Wes and the team? Reach us at bigtake@bloomberg.net.
See omnystudio.com/listener for privacy information.