Wolfspeed, a leading silicon carbide semiconductor manufacturer, is skyrocketing in value after securing $2.5 billion in funding, a combination of government grants and private investments. The funding will fuel the company’s ambitious plan to expand US production of silicon carbide chips, critical for clean energy and advanced technologies.
Intel Corporation (INTC) stock is surging on Monday following reports that the company is in line to receive up to $3.5 billion in federal grants to manufacture semiconductors for the U.S. Department of Defense. The potential funding, part of the Chips and Science Act’s ‘Secret Enclave’ program, would bolster Intel’s existing efforts to secure the domestic chip supply chain and support its facilities in states like Arizona and Ohio.
Intel has reportedly secured a $3.5 billion contract from the US military to manufacture advanced semiconductors for military and intelligence use. The deal, part of the Secure Enclave program, strengthens Intel’s position in the semiconductor industry and comes with potential additional funding from the Chips and Science Act.
President Joe Biden will visit Syracuse, New York, to announce a preliminary agreement with Micron Technology for up to $6.14 billion in subsidies for two chip factories. The agreement, funded under the CHIPS and Science Act, aims to boost domestic chip production and reduce reliance on foreign supplies. Micron plans to invest a total of $100 billion in New York, creating 13,500 jobs, and $25 billion in Idaho, creating 6,500 jobs. Biden will also highlight his administration’s efforts to revitalize U.S. manufacturing and strengthen national security.
President Biden visited Syracuse, New York, on October 27, 2022, to announce a $6.1 billion federal grant for Micron Technology. The grant will be used to build a chip factory in Syracuse’s northern suburbs, which is expected to create 20,000 construction and manufacturing jobs. The factory is part of a larger effort by the Biden administration to boost domestic semiconductor chip production and reduce reliance on China. The grant is the largest private investment in New York history.
President Joe Biden traveled to Syracuse on Thursday to celebrate the selection of the city as the site of Micron Technology’s massive $100 billion complex of computer chip plants. Biden also announced a $13.6 billion package of federal subsidies to support the project, which represents the largest private investment in New York history and the second largest incentive package awarded under the CHIPS and Science Act.
The Biden administration has reached a preliminary agreement with Micron Technology, the latest in a series of investments through the bipartisan CHIPS and Science Act. The agreement includes up to $6.1 billion in federal funding to support the construction of two manufacturing hubs in New York and Idaho. The investment is expected to result in an investment by Micron of up to $125 billion over the next two decades, creating more than 70,000 jobs. This latest agreement underscores the Biden administration’s efforts to bolster domestic semiconductor chip manufacturing and reduce reliance on foreign supply chains.
President Biden will visit Syracuse, New York, on Thursday, despite concerns from law enforcement officers following the loss of two colleagues in the line of duty. Local law enforcement had requested a delay to give them time to grieve and recover, but the Biden administration declined. The visit may strain the resources of grieving officers, who are also preparing for funerals. Several New York congresswomen have expressed their support for the officers and questioned the timing of the trip.
President Joe Biden visited Syracuse to announce a historic deal with Micron Technology, providing $6.1 billion in federal grants for the company’s planned $100 billion complex of computer chip plants. The project, located in the town of Clay, is expected to create thousands of jobs and boost the region’s economy.
