CHIPS and Science Act becomes law, as US chipmaking investments rise

President Biden on Tuesday signed into law the CHIPS and Science Act, which includes a $52.7 billion package of subsidies and grants to the US semiconductor manufacturing industry, in a move aimed at reducing the country’s dependence on Asian silicon makers and reinvigorating US chipmakers.Manufacturing incentives form the lion’s share of the funding in the bill, at $39 billion, but there’s also $2 billion for legacy chipmakers who make products critical to automotive and defe