US President Joe Biden signed an executive order to implement the semiconductor funding in the CHIPS and Science Act of 2022, marking a further milestone in the rollout of the long-delayed legislation.
According to a White House statement, the new law “will lower the costs of goods, create high paying manufacturing jobs around the country, and ensure we make more critical technologies at home”.
The new CHIPS Implementation Steering Council is responsible for implementing the act while the CHIPS.gov site will act as a central resource.
President Biden had signed the act into law earlier in August. The legislation, initially proposed two years ago, includes $52 billion in funding to boost domestic semiconductor research and manufacturing.
The US House of Representatives and Senate approved the CHIPS and Science Act last month after close to two years of negotiations.
Micron Technology has already detailed plans to invest $40 billion for memory chip manufacturing. Qualcomm also cited the legislation as a factor in a renewed deal with GlobalFoundries.Subscribe to our daily newsletter Back