FACT
President Joe Biden signed the CHIPS and Science Act into law Tuesday, sending $52.7 billion to processor manufacturers over five years in an effort to help the US reclaim semiconductor industry leadership lost to Taiwanese and Korean companies and challenged by increasingly capable Chinese firms.
Semiconductor makers are planning rapid expansions in the United States a move that could elevate the US share of memory chipmaking from 2% to 10%.
The legislation has already underway as chip designer Qualcomm will spend $4.2 billion with chipmaker GlobalFoundries to build processors in New York and Micron will invest $40 billion in memory chip manufacturing capacity as well.
Intel, which is invested more than $40 billion into new and upgraded labs in Arizona, Ohio, New Mexico and Oregon and stands to be one of the biggest winners.
