Intel to Receive $8.5 Billion in Grants to Build Chip Plants

The Biden administration, equipped with $39 billion in subsidies to distribute, is spearheading an ambitious effort to ramp up production of the tiny chips that power everything from smartphones to computers and cars. The effort is at the center of Mr. Biden’s goal to reduce America’s reliance on foreign countries: Although semiconductors were invented in the United States, only about 10 percent of the world’s chips are made domestically.

Via NY Times