$1.5 Billion in Direct CHIPS Funding Allocated to Three Projects (.PDF Download)

As the U.S. works to strengthen its supply chain resilience and bolster domestic semiconductor production, Uncle Sam appears to be onboard with the idea and willing to fund and support at least some of the activity. Earlier this month the U.S. Department of Commerce and GlobalFoundries (GF) signed a non-binding preliminary memorandum of terms (PMT) to provide approximately $1.5 billion in direct funding under the CHIPS and Science Act to strengthen U.S. domestic supply chain resilience.