White House details how CHIPS money will be spent
Abstract
Department of Commerce releases road map for how it will spend the lion's share of the $52 billion CHIPS Act. $50 billion will be deployed via the CHIPS for America fund. $28 billion of the funding will target domestic production of leading edge logic and memory chips. $11 billion will target research and development initiatives, including three new Manufacturing USA Institutes and a National Institute of Standards and Technology metrology R&D programs. The remaining $1 billion in funds will be for salaries and expenses. The funds are for salaries, expenses and oversight purposes. $10 billion will also be for research.