US Sets Aside $500 Million in Grants for Smaller Chip Suppliers.

(Bloomberg) -- The Commerce Department has set aside $500 million in government grants for smaller companies in the semiconductor supply chain, as the US seeks to beef up domestic production of critical electronic components and reduce reliance on Asian production lines. The Chips Act includes $39 billion in direct company grants - not much more than one year's capital spending by a single major chipmaker - and $75 billion in loans and loan guarantees. There are significant differences in how awards will be made to big versus small firms: Smaller supply chain companies are eligible for grants but not loans, according to the senior official. [Extracted from the article]