US Commerce Department Allocates $874 Million CHIPS Act Funds for Semiconductor R&D

The U.S. Department of Commerce has committed $874 million under the CHIPS and Science Act to seven companies. These incentives aim to boost domestic semiconductor research and development. Key investments target co-packaged optics, high-performance AI memory technology, advanced packaging, and materials for AI and advanced computing infrastructure, with GlobalFoundries receiving up to $300 million for silicon photonics R&D.