Companies producing advanced semiconductors have requested over $70B in federal subsidies, which is about twice the amount of funding that is available, Madeleine Ngo of The New York Times reports, citing Commerce Secretary Gina Raimondo. In order to revitalize domestic manufacturing of semiconductors, the government is distributing $39B in subsidies to companies that produce the chips. This is meant to strengthen the U.S. supply chain and reduce the country’s reliance on foreign chips. Publicly traded companies in the space include Advanced Micro Devices (AMD), Intel (INTC), Qualcomm (QCOM), NVIDIA (NVDA), Marvel (MRVL), Texas Instruments (TXN), Micron (MU), Microchip (MCHP).
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