The United States has allocated the first $1.5 billion as part of a plan to invest in chip production
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Today, February 19, US Department of Commerce announced on the allocation of $1.5 billion to semiconductor manufacturer GlobalFoundries. The money would go towards expanding the company’s existing manufacturing facilities in New York and Vermont, as well as building a more modern chip plant. In addition to this amount, the state of New York will allocate another $600 million to the company.
The $1.5 billion allocated by GlobalFoundries was the first major investment by US authorities under the CHIPS Act, a law passed in 2022 that provides for investments in chip production in the amount of $52.7 billion. About $39 billion should go to chip production, another $13 billion – for research and development in this area. The purpose of these investments is to stimulate chip production directly in the United States, which accounts for only 12% of the global market. Applications for investment filed about 460 companies, including Intel, TSMC, Samsung and Micron Technology.
What awaits the global semiconductor market in 2024? in the material “Kommersant FM”.
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