Who benefitted from the CHIPS Act?

The CHIPS Act, a $280 billion package to support innovation in the US, has already provided more than half of its planned government direct funding to eight companies. These companies have collectively received $29.34 billion in funding for semiconductor factories across the country. The law includes $52 billion in subsidies for semiconductor manufacturing and only concerns the construction or expansion of semiconductor fabrication facilities. The direct beneficiaries of the law include Intel, TSMC, Samsung, Micron, Global Foundries, Microchip Technology, Polar Semiconductor, and BAE Systems. The CHIPS Act aims to restart the US semiconductor industry and compete against Chinese dominance in the chip manufacturing space. However, the amount set aside to jumpstart the industry cannot be the only source of capital to bring the US up to speed, according to Commerce Secretary Gina Raimondo. The Semiconductor Industry Association says the industry garnered more than $450 billion in private investments after the announcement of the CHIPS Act, and it expects it to grow even further.

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