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Semiconductor Firms Asked to Submit Financial Projections to Get Chips Act Funds
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WASHINGTON—Semiconductor companies seeking U.S. grants under the Chips Act will be asked to provide detailed projections for revenue and profit from their new chip-making plants to help evaluate their applications, the Commerce Department said Monday.
The Chips Act provides $53 billion to help restore U.S. manufacturing might in semiconductors. Companies building leading-edge chip factories in the U.S. can begin applying for the funds Friday. The application process for companies looking to build current generation and mature technology facilities opens June 26.
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