Formally adopted back in 2022, the “Chip Law” in the United States has so far identified only two recipients of small subsidies for the construction of chip production plants, and the names of the main contenders have not even been named. US Commerce Secretary Gina Raimondo promised to fix this omission within six to eight weeks.
She made this statement in an interview with the agency Reuters: “We are in the middle of some really difficult, challenging negotiations with these companies. You will hear several new announcements over the next six or eight weeks. This is what we strive for”. Although the official did not directly name the immediate applicants for subsidies, she cited the example of plans by TSMC, Samsung and Intel to build factories in the United States as projects of a level of complexity that has never before been seen in this country. Raimondo added that she personally regularly negotiates with CEOs of companies that produce chips. She does not believe that the government is behind schedule in allocating subsidies. Their total amount, we recall, will be $39 billion, excluding funds allocated to support research activities.
The funds that the authorities are going to use to support projects for the construction of enterprises in the United States that produce chips can cover up to 35% of the capital costs of companies. Some of these funds will be provided on a repayable basis, and the US authorities can also act as guarantors for loans for companies in this industry that want to build modern enterprises in the country. The US Commerce Secretary believes that demand for chips will continue to be strong: “Artificial intelligence will drive demand to levels we’ve never seen before”.