Press Release
☷ICYMI Secretary Raimondo Delivers Update on CHIPS and Science Act Implementation Lays Road Ahead for Supercharging Innovation and Revitalizing American Semiconductor Manufacturing
U.S. Department of Commerce ( By Press Release office)
Feb 29,2024
| 0| 0
Just in case you missed it , Secretary Raimondo gave an update on the CHIPS and Science Act and the efforts to boost innovation in American semiconductor manufacturing . President Biden signed this bipartisan law to strengthen our economy , national security , and supply chains while creating more jobs . Secretary Raimondo spoke about the implementation phase and the goal of having operational facilities by the end of the decade . Check out her speech and read the full transcript here . Here are a few articles that people are talking about: The New York Times reports that chipmakers are requesting over $70 billion in federal subsidies to produce advanced semiconductors . ABC News highlights Secretary Raimondo ' s statement that leading on AI requires leading in computer chips . CNBC News mentions the Biden administration ' s aim to establish the US as a major hub for leading - edge logic chip manufacturing . Commerce Secretary Gina Raimondo announced plans to increase semiconductor chip manufacturing in the US , aiming to produce 20% of the world ' s leading - edge chips by 2030 . Companies like Intel , TSMC , and Samsung are seeking funding from the government , but Raimondo warned that they may receive less than they requested . She emphasized the importance of projects being operational by 2030 to receive incentives . “It ' s not responsible to give money to a project that will come online 10 or 12 years from now if it means turning down excellent projects that could come online this year . ” This requirement is putting new pressure on microchip manufacturers after many of them announced delays and postponed their initial timelines . Why it matters: Last year , Raimondo set several goals for the CHIP Act , including creating at least two new large - scale clusters of leading U . S . logic chip manufacturers by 2030 . Yahoo: Biden wants U . S . to make 20 percent chips For all advanced chips by the end of the decade The Biden administration has set an ambitious new goal for the United States: producing 20% of the world ' s most advanced semiconductor chips by the end of the decade . Achieving this mark — set by Commerce Secretary Gina Raimondo in a speech Monday morning — would be a transformational shift for the United States . It currently makes 0% of the so - called pioneering logic chips that are much more powerful than older - generation semiconductors , making them essential for everything from cell phones to artificial intelligence to quantum computing . That ' s a big number , yes , Raimondo said of the 20% target while speaking at the Center for Strategic and International Studies . AFP: US can accommodate ' entire ' supply chain for advanced chips: Commerce Department US Commerce Secretary Gina Raimondo expressed confidence on Monday that the country could host the entire silicon supply chain for making advanced chips , including technology considered key . for artificial intelligence . Her comments come as the United States looks to bolster its leadership in the chip industry — particularly for chips needed to develop artificial intelligence — for national security reasons and also in the face of competition with China . Speaking at the Center for Strategic and International Studies in Washington , Raimondo said US manufacturing investments will put the country on track to produce nearly 20 percent of the world ' s leading logic chips by the end of the decade . Nikkei Asia: US aims to manufacture 20% of world ' s leading chips by 2030: Raimondo The US will manufacture a fifth of the world ' s most advanced logic chips by 2030 , supported by a domestic supply chain stretching from raw materials to packaging , its minister said . Trade Gina Raymundo announced on Monday . Speaking at the Center for Strategic and International Studies here , Raimondo said the United States would not be able to lead the world if it relied on a few Asian countries for the most advanced chips , especially as artificial intelligence has become the world ' s defining technology . generation . She explained that the Chips and Science Act of 2022 , which includes $39 billion in incentives for semiconductor device manufacturing in the United States , will help change the landscape . She mentioned that by investing in cutting - edge logic chips and manufacturing , we hope to produce around 20% of the world ' s leading - edge logic chips by the end of the decade . Right now , we ' re starting from scratch . Raimondo also expressed confidence in bringing production of affordable cutting - edge memory chips back to the U . S . as part of the CHIPS for America initiative .
PLAY the NEWS
* May be useful for visually impaired persons .
Press release information:
Direct link to press release:
Click here .
