CHIPS and Science Act Spurs $140B in Private Semiconductor R&D Investments

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The CHIPS and Science Act has spurred $140 billion in private sector investment to accelerate semiconductor research, development and manufacturing in the U.S. since President Biden signed it into law in August 2022.

Among the latest companies that have committed to advancing the domestic semiconductor supply chain are Applied Materials, Analog Devices, IBM, Intel and Micron, the White House said Monday.

Applied Materials will invest up to $4 billion in the construction of a research and development center in California that will house the production of tools for chip development.

In October 2022, IBM announced a $20 billion investment in New York’s Hudson Valley region to design and manufacture semiconductors and support other emerging technology areas.

Intel said it would invest $20 billion in building two semiconductor facilities in Ohio, while Micron said it would construct a $15 billion facility in Idaho.

Analog Devices also committed $1 billion to double production at its existing facility in Oregon.