Commerce Department quietly announces 7 new equity stakes in private companies

"Big Bet on Chip Production: US Government Invests $870 Million in Semiconductor Manufacturing. The US Department of Commerce has made a significant move to boost the nation's semiconductor industry, announcing plans to invest over $870 million in seven companies in exchange for a minority equity stake. The funds, allocated through the CHIPS Research and Development Office, aim to support the development of cutting-edge chip manufacturing technologies. As the US continues to grapple with the global chip shortage and its impact on the tech sector, this investment is seen as a crucial step towards enhancing domestic production and reducing reliance on foreign suppliers. The National Institute of Standards and Technology (NIST) revealed the details of the deal in a blog post, sparking excitement among industry experts and raising questions about the potential long-term benefits of this strategic investment."

The Department of Commerce quietly announced this week it will designate more than $870 million in federal incentives for semiconductor manufacturing in exchange for a minority equity stake in seven companies. In a blog post Wednesday, the National Institute of Standards and Technology (NIST) said Commerce's CHIPS Research and Development Office signed letters of intent...