May 29, 2024 9:34 am
Search
Close this search box.

National News

Companies Increase Investment as Biden Signs Law Boosting US Semiconductor Industry

Credit: iStock

Oliver Willis

President Joe Biden on Tuesday signed the CHIPS and Science Act, which will utilize $280 billion to increase American competitiveness in science and technology, especially against China.

The legislation allocates $52 billion to boost U.S.-based semiconductor manufacturing. Before Biden signed the bill into law, the companies Micron Technology and Qualcomm announced a combined total of more than $40 billion in investments in domestic chip manufacturing, specifically citing grants and funding provided by the new law.

At the bill signing, Biden referred to the recent passage of the Inflation Reduction Act in the Senate and the passage of the CHIPS and Science Act as evidence “that we met the moment at this inflection point in history.” Biden said: “A moment when we bet on ourselves, believed in ourselves, and recaptured the story, the spirit, and the soul of this nation. We are the United States of America, A singular place of possibilities. I’m now going to go sign the CHIPS and Science Act and once again I promise you: We’re leading the world again for the next decades.”

On Tuesday, Boise, Idaho-based computer memory and storage company Micron Technology announced that it would be investing $40 billion over the next decade in memory manufacturing in the United States.

“With the anticipated grants and credits made possible by the CHIPS and Science Act, this investment will enable the world’s most advanced memory manufacturing in America,” the company noted in a statement. “Micron expects to begin production in the second half of the decade, ramping overall supply in line with industry demand trends.”

Micron described its investment as the “largest in memory manufacturing in U.S. history” and forecast that it would create 40,000 jobs, including 5,000 jobs in technical and operational roles at the company.

“This legislation will enable Micron to grow domestic production of memory from less than 2% to up to 10% of the global market in the next decade,” noted Micron president and CEO Sanjay Mehrotra.

Qualcomm, which is based in San Diego, California, announced on Monday that it would be spending an additional $4.2 billion worth of semiconductor chips from GlobalFoundries, a manufacturer based in New York, more than doubling the previous commitment between the two companies, resulting in a total of $7.4 billion in purchases through 2028.

In a press release announcing the agreement, GlobalFoundries CEO Thomas Caulfield said, “We applaud the bipartisan efforts and leadership demonstrated by Senator [Chuck] Schumer and the incredible support of Commerce Secretary [Gina] Raimondo to bring back chip manufacturing to America.”

The new law will provide subsidies for companies that build domestic semiconductor chip factories.

Billions of dollars in investments in science and technology research will be made through grants administered by multiple U.S. government agencies, including the National Science Foundation, the National Institute of Standards, and the departments of Energy and Commerce.

This story was written by Oliver Willis, former research fellow at Media Matters for America, where it first appeared.

Georgia Supreme Court justices appear skeptical of Athens DA’s claim of open records exemption

In an upcoming ruling, Georgia’s Supreme Court will weigh in on a claim brought by Athens-Clarke District Attorney Deborah Gonzalez, arguing that top prosecutors are exempt from the state’s open records laws. The case involves assertions that the trial court overlooked a constitutional provision in denying Gonzalez’s motion to dismiss an open records complaint, mirroring similar immunity arguments made by Fulton County District Attorney Fani Willis in a separate case related to the 2020 presidential election interference.

CNN sets first Biden-Trump presidential debate for June 27 in Atlanta

CNN announced today that it will host a debate between President Joe Biden and presumptive Republican presidential nominee Donald Trump at the network’s Atlanta studios on June 27, with no audience present. Both candidates have agreed to participate, marking a pivotal moment in the lead-up to the November election as they engage in direct exchanges over key issues.

Georgia public colleges to expand admissions testing requirements for fall 2026

Georgia colleges are reverting to requiring standardized test scores for all new applicants, signaling a shift from pandemic-era policies. Beginning in fall 2026, institutions including Augusta University, The University of Georgia, and Georgia Tech will mandate SAT or ACT scores, a decision unanimously approved by the Georgia Board of Regents.