Semiconductor chips are seen on a printed circuit board in this illustration picture taken February 17, 2023. The forthcoming announcements are aimed at kick-starting manufacturing of advanced semiconductors that power smartphones, artificial intelligence and weapons systems, the WSJ reported, citing industry executives familiar with the negotiations. Another likely recipient, Taiwan Semiconductor Manufacturing Co (TSMC) has two plants under construction near Phoenix for a total investment of $40 billion. Micron Technology (NASDAQ: ), Texas Instruments (NASDAQ: ) and GlobalFoundries (NASDAQ: ) count among other top contenders, WSJ said citing industry executives. The first award was announced in December, of over $35 million to a BAE Systems (LON: ) facility in Hampshire to produce chips for fighter planes, part of a $39 billion "Chips for America" subsidy program approved by the U.S. Congress in 2022.

Source: Wall Street Journal January 27, 2024 11:45 UTC