- The aim of this initiative is not to benefit China from US funding.
The US Commerce Department has recently informed that more than 460 companies have showcased interest in the government semiconductor subsidy funding programme.
Last year, Joe Biden signed $52.7 billion in subsidies for US semiconductor production, research and workforce development. He aims to make the US a semiconductor manufacturing hub and less dependent on other countries for electronics or clean energy supply chains.
In June, the Commerce Department accepted applications for a $39-billion subsidy programme for US semiconductor manufacturing, equipment, and materials for making chips but has not yet issued awards.
Last year, the Commerce Department built a team of more than 140 people and wrote rules for accepting and assessing applications.
This initiative aims not to benefit China from US funding.