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The federal government is pouring billions of dollars into efforts to strengthen the US’s domestic capacity to produce semiconductor chips.
These chips, which power everything from cars to computers, were in short supply during the Covid-19 pandemic, as supply-chain issues brought into focus how dependent the US was on other countries for the technology. The US aims to produce 20% of the world’s most advanced chips by 2030 as part of the CHIPS and Science Act, and the government is tapping companies like Intel to help it achieve this goal.
Intel will receive $8.5 billion from the Department of Commerce to bolster