Funding Updates – NIST
An official website of the United States government
Here’s how you know
Official websites use .gov
A .gov website belongs to an official government organization in the United States.
Secure .gov websites use HTTPS
A lock ( ) or https:// means you’ve safely connected to the .gov website. Share sensitive information only on official, secure websites.
https://www.nist.gov/chips/funding-updates
President Biden signed the bipartisan CHIPS and Science Act into law on August 9, 2022 — creating a $52 billion investment to revitalize America’s domestic semiconductor industry and strengthen the country’s economic and national security. Of that sum, CHIPS for America within the U.S. Department of Commerce is responsible for administering $50 billion in semiconductor incentives and funding for research and development programs. The activities on this page continue the implementation phase of this key part of President Biden’s Investing in America agenda to bring manufacturing jobs back to the United States, strengthen global supply chains, and secure America’s technology leadership in the 21st century.
On July 1, 2024, the Biden-Harris Administration announced that the U.S. Department of Commerce and Rogue Valley Microdevices (RVM) have signed a non-binding preliminary memorandum of terms (PMT) to provide up to $6.7 million in proposed direct funding under the CHIPS and Science Act.
CHIPS Incentives application stage: Due diligence
PMT announced: July 1, 2024
On June 26, 2024, the Biden-Harris Administration announced that the Department of Commerce and Entegris, a key supplier of advanced materials and process solutions for leading-edge chipmakers, have reached a non-binding preliminary memorandum of terms (PMT) to provide the company with up to $75 million in proposed federal incentives under the CHIPS and Science Act.
CHIPS Incentives application stage: Due diligence
PMT announced: June 26, 2024
On June 11, 2024, the Biden-Harris Administration announced that the Department of Commerce and Rocket Lab, the parent company of space power provider SolAero Technologies Corp., have signed a non-binding preliminary memorandum of terms (PMT) to provide up to $23.9M in direct funding under the CHIPS and Science Act.
CHIPS Incentives application stage: Due diligence
PMT announced: June 11, 2024
On May 23, 2024, the Biden-Harris Administration announced that the U.S. Department of Commerce and Absolics, an affiliate of the Korea-based SKC, have signed a non-binding preliminary memorandum of terms (PMT) to provide up to $75 million in direct funding under the CHIPS and Science Act to help advance U.S. technology leadership.
CHIPS Incentives application stage: Due diligence
PMT announced: May 23, 2024
On May 13, 2024, the Biden-Harris Administration announced that the U.S. Department of Commerce and Polar Semiconductor (Polar) have reached a non-binding preliminary memorandum of terms (PMT) to provide the company with up to $120 million in proposed federal incentives under the CHIPS and Science Act. This proposed funding would catalyze investment from private and state sources to expand Polar’s manufacturing facility and introduce new technology capabilities in Bloomington, Minnesota.
CHIPS Incentives application stage: Due diligence
PMT announced: May 13, 2024
On April 25, 2024, the Biden-Harris Administration announced that the U.S. Department of Commerce and Micron Technology have signed a non-binding preliminary memorandum of terms (PMT) to provide up to roughly $6.14 billion in direct funding under the CHIPS and Science Act to boost U.S. competitiveness in leading-edge memory semiconductor production.
CHIPS Incentives application stage: Due diligence
PMT announced: April 25, 2024
On April 15, 2024, the Biden-Harris Administration announced that the U.S. Department of Commerce and Samsung Electronics (Samsung) have signed a non-binding preliminary memorandum of terms (PMT) to provide up to $6.4 billion in direct funding under the CHIPS and Science Act. This funding would turn Samsung’s existing presence in Texas into a comprehensive ecosystem for the development and production of leading-edge chips in the United States, including two new leading-edge logic fabs, an R&D fab, and an advanced packaging facility in Taylor, as well as an expansion to their existing Austin facility.
CHIPS Incentives application stage: Due diligence
PMT announced: April 15, 2024
On April 8, 2024, Biden-Harris Administration announced that the U.S. Department of Commerce and TSMC Arizona Corporation (TSMC Arizona), a subsidiary of Taiwan Semiconductor Manufacturing Company Limited (TSMC), have signed a non-binding preliminary memorandum of terms (PMT) to provide up to $6.6 billion in direct funding under the CHIPS and Science Act. This proposed funding would support TSMC’s investment of more than $65 billion in three greenfield leading-edge fabs in Phoenix, Arizona, which will manufacture the world’s most advanced semiconductors.
CHIPS Incentives application stage: Due diligence
PMT announced: April 8, 2024
On March 20, 2024, the Biden-Harris Administration announced that the U.S. Department of Commerce and Intel Corporation have reached a non-binding preliminary memorandum of terms (PMT) to provide up to $8.5 billion in direct funding under the CHIPS and Science Act to strengthen the U.S. supply chain and re-establish American leadership in semiconductor manufacturing.
CHIPS Incentives application stage: Due diligence
PMT announced: March 20, 2024
On February 19, 2024, the Biden-Harris Administration announced that the U.S. Department of Commerce and GlobalFoundries (GF) have signed a non-binding preliminary memorandum of terms (PMT) to provide approximately $1.5 billion in direct funding under the CHIPS and Science Act to strengthen U.S. domestic supply chain resilience, bolster U.S. competitiveness in current-generation and mature-node (C&M) semiconductor production, and support economic and national security capabilities.
CHIPS Incentives application stage: Due diligence
PMT announced: February 19, 2024
On January 4, 2024, Under Secretary of Commerce for Standards and Technology and the Director of the National Institute of Standards and Technology Laurie E. Locascio announced that the Department of Commerce and Microchip Technology Inc. have signed a non-binding preliminary memorandum of terms (PMT).
CHIPS Incentives application stage: Due diligence
PMT announced: January 4, 2024
On December 11, 2023, Secretary of Commerce Gina Raimondo announced that the U.S. Department of Commerce and BAE Systems Electronic Systems, a business unit of BAE Systems, Inc., have signed a non-binding preliminary memorandum of terms.
CHIPS Incentives application stage: Due diligence
PMT announced: December 11, 2023
Webmaster | Contact Us | Our Other Offices