The U.S. Department of Commerce detailed Tuesday how it plans to roll out around $50 billion in funding for domestic semiconductor chip manufacturing.
Appropriated through the CHIPs and Science Act signed last month, the funding aims to accelerate microchip manufacturing in the wake of a global shortage that rocked the automotive industry and revealed shaky supply chains.
"With this funding, we're going to make sure that the United states is never again in a position where our national security interests are compromised or key industries are immobilized due to our inability to produce essential semiconductors here at home," Commerce Secretary Gina Raimondo said Tuesday.
