GlobalFoundries scores $1.5B in Uncle Sam's semiconductor subsidy bonanza

GlobalFoundries is pocketing $1.5 billion in CHIPS and Science Act funding from the US government to ensure continued supply of the chips it makes for the automotive, communications, and defense industries. The Department of Commerce said it has signed a non-binding preliminary memorandum of terms (PMT) with GlobalFoundries …

[Anonymous Coward]

Exported

“ Commerce Secretary Gina Raimondo said in a statement that semiconductors are in everything from fridges to the most advanced weapons systems, and access to them carries important economic and security implications.

"We're working to onshore these critical technologies in order to bolster the supply of domestic chips that are essential to manufacturing cars, electronics, and national defense systems in New York, Vermont, and states across the country," she said.”

.. yet most will get shipped to China, Malaysia, Vietnam, Slovakia , Mexico for manufacture into said fridges, TV’s, Computers, and other product manufacturer/sub-assembly as that long offshored/contract outsourced (hi Foxconn) from USA, Europe.

“ Lochaber no more, Sutherland no more

Lewis no more, Skye no more …

Bathgate no more, Linwood no more

Methil no more, Irvine no more …

… Silicon Glen no more ……..”

[MachDiamond]

Drop meet bucket

Given the cost to build a leading edge fab, the US fund of free money for big companies is woefully inadequate. The issue has been companies needing State Department approval to sell leading edge silicon products to anybody other then the US government. If the US wants an electronics industry, the easiest way to the goal is look at why it isn't profitable for companies to locate in the US.