The Biden administration announced $6.6 billion in funding to ensure the United States remains a global leader in semiconductor manufacturing. The funding aims to establish a new program to provide direct funding to semiconductor companies for domestic chip manufacturing and research. It will support the construction of new facilities and the expansion of existing semiconductor fabrication plants. The initiative is part of the CHIPS and Science Act, which aims to revitalize the domestic semiconductor industry and boost economic and national security. The funding will help address supply chain vulnerabilities, strengthen economic and technological leadership, and create well-paying jobs. The administration emphasizes the importance of domestic semiconductor production for critical sectors like transportation, healthcare, and communications. The funding announcement underscores the administration’s commitment to investing in cutting-edge technologies and ensuring the United States remains competitive in the global semiconductor market.