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POLITICO Tech
How many chips does $29 billion buy?
Apr 25, 2024
Michael Schmidt, Director of the Commerce Department's CHIPS Program Office, discusses the significant financial support provided to leading chip makers by the Biden administration, including Micron Technology's $6.14 billion grant. They explore the impact of these investments on advancing technologies like artificial intelligence, strengthening the US supply chain, national security, and economic growth.
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Quick takeaways
- The Biden administration is providing significant funds to chip manufacturers like Micron Technology to boost semiconductor production in the U.S.
- Investments in onshoring chip manufacturing aim to enhance national security, economic growth, and reduce reliance on foreign semiconductor production.
Deep dives
Biden Administration's Investments in Chip Makers
The Biden administration has been allocating substantial funds to leading chip manufacturers like Intel, TSMC, Samsung, and Micron Technology, with aims to boost chip production in the United States. By financially supporting Micron Technology with a grant of 6.14 billion, the government incentivizes the establishment of advanced memory chip manufacturing facilities in New York and Idaho, enhancing the country's capabilities in producing cutting-edge technologies crucial for artificial intelligence.
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