Semiconductors seeking Chips Act grants asked to submit projections, WSJ says

Semiconductor companies seeking U.S. grants under the Chips Act will be asked to provide detailed projections for revenue and profit from their new chip-making plants to help evaluate their applications, The Wall Street Journal’s Yuka Hayashi reports, citing the Commerce Department. The Chips Act provides $53 billion to help restore U.S. manufacturing might in semiconductors. Companies building leading-edge chip factories in the U.S. can begin applying for the funds Thursday, the author notes. The companies expected to apply for funding for leading-edge chip facilities include Intel (INTC), TSMC (TSM) and Samsung (SSNLF). Reference Link