CHIPS and Science Act Signed — $52.7B for US Semiconductor Industry

President Biden signs the CHIPS and Science Act, authorizing $52.7 billion in federal investment in US semiconductor manufacturing ($39 billion) and R&D ($11 billion). The law aims to reshore chip production to the US after decades of offshoring to Asia. Guardrails prohibit CHIPS recipients from expanding advanced manufacturing in China for 10 years. Intel, TSMC, Samsung, and Micron all receive major grants under the program.