US Commerce Secretary Hints at Possible Withdrawal of CHIPS Act Funding
US Commerce Secretary Lutnick has hinted that he may withdraw the promised funding for the CHIPS Act, as he is pushing companies that meet federal semiconductor subsidy requirements to significantly expand their projects in the US. Informed sources said that the Commerce Secretary hopes that companies receiving subsidies from the 2022 CHIPS and Science Act will follow in the footsteps of TSMC, which recently announced an additional $100 billion investment in US factories on top of its previous $65 billion commitment. Lutnick's goal is to secure tens of billions of dollars in semiconductor investment commitments without increasing the scale of federal funding.
