TECH - Citi Analyst Predicts Intel And Micron As Biggest Beneficiaries In US CHIPS Act Push Despite Regulatory Hurdles | Benzinga
On Tuesday, the U.S. Department of Commerce announced the first CHIPS Act award of $35 million to BAE Systems Plc (OTC: BAESY) (OTC: BAESF), a British aerospace firm.
This grant will enable BAE's Nashua, New Hampshire facility to quadruple the production of chips necessary for critical defense programs, including the F-35 fighter jet program. Commerce Secretary Gina Raimondo announced the grant in New Hampshire, emphasizing its role in reducing dependency on Asian countries for advanced semiconductors and marking a new phase in the U.S. chips effort, Bloomberg reports.
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