The Biden administration's grant of $1.6 billion to Texas Instruments aims to boost semiconductor production in the U.S., addressing supply chain vulnerabilities post-pandemic.
Laurie E. Locascio emphasized that the funding is pivotal to enhancing U.S. economic security and mitigating supply chain vulnerabilities that surfaced during the pandemic.
The grant and loans to Texas Instruments are part of a broader strategy to increase domestic semiconductor manufacturing, which has plummeted from 37% in 1990 to around 10% today.
The CHIPS Act funding symbolizes a bipartisan push to reinvigorate America’s manufacturing sector, ultimately aiming to reduce dependency on foreign semiconductor production.
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