Biden Administration releases plan for $50B investment in chips – NY Times

The New York Times is reporting this Tuesday morning that the US Department of Commerce announced its plan for investing $50 billion in the domestic semiconductor industry, in a bid to counter China.

Gina Raimondo, the Secretary of Commerce, said in an interview, “the department is aiming to begin soliciting applications for the funding from companies no later than February, and it could begin disbursing money by next spring.”