Bloomberg, citing a source in the White House, explains that this law provides comprehensive funding allocations for projects related to reducing inflation, infrastructure legislation and other items. One of the goals of the current president’s actions is to conclude a deal with Intel and Samsung.
The Chips and Science Act provides targeted and programmatic assistance to these companies to increase their chip production in the US and, in the case of Samsung, to localize production.
“The next two months will be critical for more than 20 companies still in the process. Taiwan Semiconductor Manufacturing Co. Some of these include. It and GlobalFoundries Inc. have completed negotiations and expect to announce the results soon, people familiar with the matter said. Intel, Samsung and Micron Technology Inc., according to other people who asked not to be named because the conversations are private. Other companies such as are still working out some key details of their contracts.
Source: Ferra
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