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Chips firms seek double of $28 billion US subsidies available: commerce secretary Gina Raimondo
Economic Times
·
1y ago
Medial
US Commerce Secretary Gina Raimondo has stated that most chip companies seeking government subsidies will receive significantly less than what they have requested. The government has received requests for more than double the $28 billion it plans to award. Raimondo is engaged in tough negotiations to ensure companies in leading-edge chip manufacturing do more with less funding. The department aims to prioritize projects that will be operational by 2030 and estimates that US production of leading-edge logic chips will increase from zero to 20% by that time. Raimondo emphasized the need to be tough with companies and make the most of available resources.
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US has no evidence Huawei can produce advanced smartphones in large volumes
Economic Times
·
1y ago
Medial
US Commerce Secretary Gina Raimondo stated that there is no evidence that Chinese manufacturer Huawei can produce smartphones with advanced chips in large volumes, referring to an advanced chip in the Mate 60 Pro. The Commerce Department is investigating the chip's violation of trade restrictions, and some Republicans believe all technology exports to Huawei and SMIC should be ceased. The US government is actively seeking more information about the Huawei chip.
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US commerce secretary downplays chip in advanced Huawei phone
Economic Times
·
1y ago
Medial
Huawei's Mate 60 Pro phone, powered by a chip that was seen as a symbol of China's technological resurgence, is not as advanced as American chips, according to U.S. Commerce Secretary Gina Raimondo. She believes that this demonstrates the effectiveness of U.S. trade restrictions on Huawei. The U.S. has been working to limit Beijing's access to advanced semiconductor chips over concerns about their use in military capabilities. Raimondo has emphasized her commitment to holding businesses accountable, even if they are not pleased with restrictions on selling semiconductors to China. The Biden administration is currently reviewing the details of the Huawei phone's chip.
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Joe Biden to announce Intel chips grant in Arizona next week
Economic Times
·
1y ago
Medial
President Joe Biden and Commerce Secretary Gina Raimondo are set to announce a multi-billion-dollar award for Intel to expand its chip production in the US. The award, which will include grants and loans, is part of the 2022 CHIPS and Science Act aiming to boost domestic semiconductor output with a $52.7 billion fund. Intel's expansion plans in Ohio and Arizona align with Biden's focus on swing states. This move comes after the US awarded $1.5 billion to GlobalFoundries and $162 million to Microchip Technology for semiconductor production. The goal is to reduce reliance on China and Taiwan in semiconductor manufacturing.
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OpenAI's Sam Altman seeks US government nod for AI chips venture: report
Economic Times
·
1y ago
Medial
OpenAI CEO Sam Altman is seeking approval from the U.S. government for his AI chips venture, which could raise national security and antitrust concerns. Altman has informed potential investors and partners that he needs a green light from Washington to proceed. He has met with Commerce Secretary Gina Raimondo and is working to arrange meetings with other officials. Altman's business plan, which could be partly financed from the Middle East, has attracted interest from investors and chip companies in the U.S., Middle East, and Asia.
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Samsung to get $6-7 billion in chip subsidy next week for Texas expansion
Economic Times
·
1y ago
Medial
The Biden administration is set to award a subsidy of $6-7 billion to Samsung to expand chip output in Texas. The funds will go towards constructing four facilities in Taylor, including a $17 billion chipmaking plant. This investment will double Samsung's U.S. investment to over $44 billion. The aim is to boost domestic chip production and reduce reliance on China and Taiwan. The subsidy follows similar grants awarded to TSMC and Intel for chip production expansion in Arizona. The announcement is expected to be made by Commerce Department Secretary Gina Raimondo.
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US finalises $123 million chips award for Polar Semiconductor
Economic Times
·
11m ago
Medial
The U.S. Commerce Department has approved a $123 million grant for Polar Semiconductor to expand its Minnesota plant, allowing the company to increase its production capacity of power and sensor chips. This grant is part of the Biden administration's $52.7 billion subsidy program for semiconductor manufacturing and research. Commerce Secretary Gina Raimondo stated that the funding will help establish a new U.S.-owned foundry for sensor and power semiconductors and enhance Polar's production capabilities. The expansion is expected to serve the aerospace, automotive, and defense industries. The state of Minnesota is also contributing $75 million towards the project. This is the first grant to be finalized by the Commerce Department under the subsidy program.
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The White House Warns Cars Made in China Could Unleash Chaos on US Highways
Wired
·
1y ago
Medial
The US government has launched an investigation into the national security risks posed by foreign-made vehicles with internet connectivity, particularly those made in China. Secretary of Commerce Gina Raimondo expressed concerns about the potential for Beijing to remotely disable Chinese-made vehicles on American roads. The investigation will explore how these vehicles could be used for espionage, data collection, or sabotage. The move is part of a broader concern about China's technology ambitions and its impact on the US auto market. Chinese automakers, such as BYD, have become major players in global car manufacturing, including electric vehicles.
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US to launch its own AI safety institute
Economic Times
·
1y ago
Medial
The United States is set to launch its own AI safety institute to evaluate the risks associated with advanced AI models, according to Secretary of Commerce Gina Raimondo. The institute, under the National Institute of Standards and Technology (NIST), will focus on developing safety, security, and testing standards for AI models, as well as authenticating AI-generated content. Raimondo emphasized the need for collaboration between academia, industry, and the private sector to address AI risks effectively. This announcement comes after President Joe Biden signed an executive order requiring safety tests for AI systems with potential risks to national security and other aspects.
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Commerce department is on the front lines of China policy
Economic Times
·
9m ago
Medial
The U.S. Commerce Department has shifted its focus from promoting American business and exports to taking on a national security role. This evolution began during the Trump administration with actions such as restricting exports to Chinese telecommunications company Huawei. Under Commerce Secretary Gina Raimondo, the department has expanded restrictions on China's access to critical technology and has been involved in examining apps and software for national security risks. The department's role highlights the increasing interconnectedness of economics, intelligence, and defense. Critics argue that the agency may not be best equipped for these national security measures, but Raimondo emphasizes the importance of working with allies and avoiding cutting off U.S. businesses from trading with China.
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Micron to get $6 billion from US govt for domestic chip factories
Livemint
·
1y ago
Medial
Micron Technology is expected to receive over $6 billion in grants from the US Commerce Department to support its domestic factory projects. The grants are part of an initiative to bring semiconductor production back to the US. Micron, the largest US maker of computer memory chips, is building factories in New York and Idaho. The award, which is yet to be finalized, could be announced as early as next week. In addition to the grants, it is uncertain whether Micron will also seek loans available through the 2022 Chips and Science Act.
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