The Biden administration on Friday will announce the investment of $5 billion in a public-private consortium aimed at supporting research and development in advanced computer chips.
The National Semiconductor Technology Center is being funded through the CHIPS and Science Act. That 2022 law aims to reinvigorate the computer chip sector within the United States through targeted government support.
“We need to be building for the future and that means making investments in R&D,” Commerce Secretary Gina Raimondo said to reporters in a call previewing the financial commitment.
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