Commerce Secretary Howard Lutnick has indicated he could withhold promised grants part of the Chips Act as he pushes companies set for federal semiconductor subsidies to expand their US projects, Mackenzie Hawkins and Ian King of Bloomberg reports, citing people familiar with the matter. Lutnick’s goal is to generate tens of billions of dollars in additional semiconductor investment commitments without increasing the size of the federal grants, Bloomberg’s sources added. Publicly traded companies in the space include AMD (AMD), Marvell (MRVL), Microchip (MCHP), Micron (MU), Nvidia (NVDA), Qualcomm (QCOM), TSMC (TSM), and Texas Instruments (TXN).
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