What is the CHIPS Act of USA?
CHIPS act is the abbreviation of Creating Helpful Incentives to Produce Semiconductors for America Act, passed by the United States Congress in 2021. The CHIPS Act aims to increase domestic semiconductor manufacturing capacity and address supply chain challenges by providing funding for research and development, incentives for companies to build or expand semiconductor manufacturing facilities in the United States, and other measures to promote innovation and competitiveness in the semiconductor industry. The act also includes provisions for national security considerations in producing semiconductor technology.
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