Trump Administration Awards $874 Million in CHIPS Act Funding for AI Semiconductor Projects
The Trump administration has announced a new round of funding under the CHIPS and Science Act to support semiconductor technologies critical for artificial intelligence (AI) development. The Commerce Department signed letters of intent totaling $874 million, allocated among seven companies working on advanced computing solutions. GlobalFoundries Inc., which received the largest share at up to $300 million, will focus on co-packaged optics integrating photonics with AI processors. Other recipients include Kepler and Multibeam Corporation for memory technology development and chip packaging innovation respectively. The funding is intended to strengthen U.S. leadership in advanced computing by enhancing domestic supply chains and accelerating R&D efforts. In exchange for the financial support, the government will hold minority equity stakes in these companies.