• Home
  • Laptops
  • Laptops News
  • US CHIPS Act: Department of Commerce Reveals Implementation Strategy for $50 Billion Semiconductor Investments

US CHIPS Act: Department of Commerce Reveals Implementation Strategy for $50 Billion Semiconductor Investments

The CHIPS Act implementation strategy has four primary objectives, according to the US Department of Commerce.

US CHIPS Act: Department of Commerce Reveals Implementation Strategy for $50 Billion Semiconductor Investments

Photo Credit: Reuters

The US CHIPS and Science Act aims to create "hundreds of thousands" of construction jobs

Highlights
  • The US CHIPS and Science Act was signed into law last month
  • It aims to create "tens of thousands" of manufacturing jobs in the US
  • Specific guidance for applications will be available by February 2023

The US Department of Commerce on Tuesday announced the release of its implementation stategy for the $50 billion (roughly Rs. 3,99,000 crore) CHIPS (Creating Helpful Incentives to Produce Semiconductors) Act signed into law by US President Joe Biden last month. The bipartisan bill is designed to subsidise the cost of manufacturing chips in the US, as the government attempts to create new jobs in the chip manufacturing sector and ramp up reseach and development of chips to help the US compete with other countries.

On Tuesday, the US Department of Commerce released its strategy to implement the new CHIPS and Science Act. The CHIPS for America program will be housed within the Department's National Institute of Standards and Technology (NIST), according to the federal government department, which outlined the primary objectives of the legislation.

According to the department's implementation strategy, the CHIPS for America program will have four primary goals. The first is the establishment and expansion of domestic production of leading-edge semiconductors in the US, while the second goal will be to create a reliable and sufficient supply of mature node semiconductors.

The Department of Commerce is also looking to invest in research and development for the next generation of chipmaking in the US. Finally, it aims to create "tens of thousands" of manufacturing jobs in the US, as well as "hundreds of thousands" of construction jobs. These include jobs for women, people of colour, veterans and people who live in rural areas, according to the strategy.

The US Department of Commerce said that specific application guidance for the CHIPS for America program will be released through funding documents, by early February 2023. It will grant awards and loans on a rolling basis once applications are processed.


With the next Apple event due very soon, we dive into all the leaks and rumours surrounding iPhone 14 on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.
Affiliate links may be automatically generated - see our ethics statement for details.
Comments

For the latest tech news and reviews, follow Gadgets 360 on Twitter, Facebook, and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel.

David Delima
As a writer on technology with Gadgets 360, David Delima is interested in open-source technology, cybersecurity, consumer privacy, and loves to read and write about how the Internet works. David can be contacted via email at DavidD@ndtv.com, on Twitter at @DxDavey, and Mastodon at mstdn.social/@delima. More
Robinhood Enables Deposits, Withdrawals of MATIC Token on Polygon: Here's What It Means for Traders
Ethereum Classic Hash Rate Shoots Through the Roof as Proof-of-Stake Switch Nears
Share on Facebook Tweet Snapchat Share Reddit Comment google-newsGoogle News
 
 

Advertisement

Follow Us

Advertisement

© Copyright Red Pixels Ventures Limited 2023. All rights reserved.