Trump’s Win Sets Off Race to Complete Chip Subsidy Deals
- Companies seek to finalize agreements as quickly as possible
- Republicans are brainstorming reforms to semiconductor law
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The Biden administration is racing to complete Chips Act agreements with companies like Intel Corp. and Samsung Electronics Co., aiming to shore up one of its signature initiatives before President-elect Donald Trump enters the White House.
The Commerce Department has allocated more than 90% of the $39 billion in grants under the 2022 Chips and Science Act, a landmark law designed to rebuild the domestic chip industry. But the agency has only announced one binding agreement so far.