U.S. government innovates funding for semiconductor manufacturing

In February 2023, U.S. Commerce Secretary Gina Raimondo considered a $39 billion funding opportunity for semiconductor manufacturing under the CHIPS Act. The proposal included a pre-application process, upside sharing provisions, and funding milestones to ensure progress. These measures aimed to enhance U.S. technological leadership while safeguarding taxpayer funds, reflecting a shift towards innovative funding strategies in government.