KEY POINTS
  • Commerce Secretary Gina Raimondo announced the Biden administration's plans to invest CHIPS and Science Act funds into at least two semiconductor manufacturing clusters by 2030.
  • The clusters will fuel a "robust supplier ecosystem" and research and development for semiconductors, Raimondo said.
  • The announcement comes as the Commerce Department prepares to open applications to businesses for CHIPS funding next week.
Commerce Secretary Gina Raimondo testifies before a Senate Appropriations Subcommittee on Commerce, Justice, Science and Related Agencies hearing on Capitol Hill in Washington, D.C., Feb. 1, 2022.

WASHINGTON — The U.S. will use funds from the $52 billion CHIPS and Science Act to create at least two large-scale logic fabs for the manufacture of semiconductors, along with multiple high-volume advanced packaging facilities, by 2030, Commerce Secretary Gina Raimondo announced Thursday.

Raimondo's announcement comes as the department prepares to open applications next week for businesses to receive funding under the CHIPS Act, signed into law by President Joe Biden in August.