The law provides $52.7 billion, including $39 billion in subsidies for semiconductor production and $11 billion research and development. "A nation that does not do R&D is a weak nation," Granholm said at the event. "We're in the process of really complicated, challenging negotiations with these companies," Raimondo told Reuters in an interview. "The semiconductor manufacturing program is intended to subsidize chip production and related supply chain investments. "These are new-generation investments - size, scale complexity that's never been done before in this country," Raimondo said.

Source: Economic Times February 10, 2024 18:05 UTC