Where the CHIPS Act money has gone

Over half of the $52 billion CHIPS Act subsidy has been disbursed to eight semiconductor companies to boost US chip manufacturing.

: More than half of the $52 billion subsidy from the CHIPS and Science Act has been allocated to eight semiconductor companies. These funds are aimed at constructing or expanding chip fabrication facilities in the US. The Act seeks to rejuvenate the US semiconductor industry to compete against China's dominance.

Since the CHIPS and Science Act was passed in August, over half of the $52 billion allocated for semiconductor subsidies has already been distributed. Eight companies, including Intel, Micron, and TSMC, have received a total of $29.34 billion specifically for semiconductor factory construction or expansion projects across the US.

Intel has emerged as the largest beneficiary with $8.5 billion for projects in multiple states, followed by TSMC and Samsung with $6.6 billion and $6.4 billion, respectively. The initiative aims to revitalize the US semiconductor industry, which has faced stiff competition from China's growing chip manufacturing capabilities.

Although the funds have spurred significant private investment, with over $450 billion flowing into the industry post-announcement, Commerce Secretary Gina Raimondo emphasizes that government subsidies alone won't suffice. The CHIPS Act is primarily focused on projects operational by 2030, yet some promising proposals may not receive funding. Additionally, the Biden administration is expanding its scope to include research in advanced substrate packaging technologies for high-powered chips.