US Takes Security-First Focus for $39 Billion Chip Aid (1) – Bloomberg Law

As President Joe Biden’s administration prepares to accept requests for $39 billion in funding to jumpstart US production of microchips, his commerce chief emphasized the program’s focus is strengthening national security rather than boosting struggling chipmakers.

The US next Tuesday will unveil applications for the manufacturing part of the funding under the Chips and Science Act passed last year and will be “crystal clear” in its selection criteria, Commerce Secretary Gina Raimondo said.

“I expect there will be many disappointed companies who feel that they should have a certain amount of money. The reality is the return on our …