"We can't gamble with our national security by depending solely on one part of the world or even one country for crucial advanced technologies." US doles out paltry $35 million, warns of possible delays in Intel and TSMC fab buildouts

Intel Meteor Lake from Intel Technology Tour 2023 in Malaysia.

What you need to know

• The CHIPS Act of 2022 designates $52.7 billion in government funding to help companies invest in U.S. Chip Manufacturing.
• The U.S. only manufactures 12% of the world's chips, down from 40% in 1990. The goal of the CHIPS Act is to push U.S. chip manufacturing to 20%.
• Due to long regulatory and environmental concerns, there is likely to be a large delay for other companies like Intel and TSMC.