President Biden just awarded $8.5 billion dollars to the company Intel to help fund semiconductor factories in Arizona, Ohio, New Mexico, and Oregon.
At a visit to Intel’s campus outside Phoenix this week, President Biden said the money will help semiconductor manufacturing make a comeback in the US after 40 years.
The money for Intel comes from the $ 9 billion set aside by the 2022 CHIPS and Science Act, to build chip factories. The administration’s goal? For 20% of the world’s leading-edge semiconductor chips to be made on American soil by 2030.
The US currently makes zero of the world’s leading-edge semiconductor chips. By 2030, the Biden administration wants to make A FIFTH of them. So how will America get there?
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