1srelluc
Diamond Member
US Aims to Announce Big Grants for Chip Plants by End of March
(Bloomberg) -- The US is aiming to announce major chip grants by the end of March, people familiar with the plans said, paving the way to send billions of dollars to semiconductor makers in a bid to supercharge domestic production.Most Read from BloombergMusk’s $55 Billion Pay Package Voided...
- (Bloomberg) -- The US is aiming to announce major chip grants by the end of March, people familiar with the plans said, paving the way to send billions of dollars to semiconductor makers in a bid to supercharge domestic production.
- The awards — slated to go to Intel Corp. and other chipmakers — are a central piece of the 2022 Chips and Science Act, which set aside $39 billion in direct grants to revitalize US manufacturing.
Intel has said that the grants will determine how quickly it progresses with expansion projects, including a planned facility in Ohio that would be the world’s largest. Overseas chipmakers such as Taiwan Semiconductor Manufacturing Co. and Samsung Electronics Co. also are expected to get a portion of the funds, helping them pay for factories in the US.
- The chip companies who are going to MAYBE benefit from this have combined market caps of $5 to 10 trillion dollars. That means that if they really thought that they needed this fab, they could raise the capital from Wall Street in about five minutes.
The companies who are getting the funds know that they need to kick back millions in donations to the Dems.
- The terms of these "awards" include union hiring, DEI requirements for construction and future labor force, tons of environmental contracts to build it (all run by Dems), and lots more second and third level pork for more Dem kickbacks.
- After reviewing all of the hundreds of pages of riders for the award, the TSMC CEO almost backed out, saying that he didn't think that he could make money with all of the woke contract terms.
- He was later "convinced" otherwise.
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