US Finalizes First Binding Chips Award With Polar Semiconductor.

The Biden administration has finalized its first binding award under the Chips and Science Act, granting $123 million to Polar Semiconductor. This grant is expected to double the company's US manufacturing capacity within two years. The funds will be released once negotiated benchmarks are reached, although the exact timeline and milestones are unclear. The Chips Act, which aims to revitalize American semiconductor manufacturing, has attracted significant investment from companies like Intel and Taiwan Semiconductor Manufacturing Co. The government has allocated over $35 billion in grants to support 26 semiconductor sites, with more awards expected to be finalized soon. [Extracted from the article]