Get the latest tech news
Texas Instruments awarded $1.6 billion in CHIPS Act funding for domestic silicon production
Texas Instruments is the latest recipient of CHIPS Act funds. The 2022 law will award TI $1.6 billion in grants.
With Friday’s awarding of funds for TI, the government has now met its minimum quota for legacy chips. For the CHIPS Act, the Commerce Department prioritizes projects that can be completed by the decade’s end, leaving those delayed plants without federal funding. After the bill passed in 2022, Biden said it would “strengthen our national security by making us less dependent on foreign sources of semiconductors.” He noted that it included “guardrails to ensure that companies receiving tax payer dollars invest in America and that union workers are building new manufacturing plants across the country.”
Or read this on Endgadget