Reuters12d agoneutral
US signs letters of intent worth $874 million to boost semiconductor researchThe U.S. Department of Commerce said on Tuesday it has signed letters of intent to provide $874 million in incentives to seven companies developing semiconductor technologies for AI and advanced computing systems. The funding, to be issued under the CHIPS and Science Act, is part of a broader U.S. effort to strengthen domestic semiconductor production and reduce dependence on foreign suppliers. Here are some details: • GlobalFoundries will receive up to $300 million for the development of co-packaged optics, which combine light-based data transfer with AI processors for faster computing.
