US Senate approves $52 billion for chipmakers—but not designers

The US Senate, by a vote of 64-33, has approved the CHIPS Act, a bill that would provide $52 billion in assistance funds for semiconductor manufacturers looking to make products in the US, along with a 25% tax credit for investment in the industry, as well as research and workforce development grants.The bill still needs the approval of the US House of Representatives and President Biden, a vocal supporter of the legislation, to become law.While $2 billion of the direct assistance funds is alre