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Biden Admin Providing $1.5 Billion to GlobalFoundries to Make Computer Chips in New York and Vermont

Posted on AllSides February 19th, 2024
From The Left

WASHINGTON (AP) — The Biden administration said Monday that the government intends to provide $1.5 billion to the computer chip company GlobalFoundries to expand its domestic production in New York and Vermont. The announcement is the third award of direct financial support for a semiconductor company under the 2022 CHIPS and Science Act. The law enables the government to invest more than $52 billion to revitalize the manufacturing of computer chips in the United States as well as advance research and development. “The chips that GlobalFoundries will make in these...

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