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@ 2023/03/02The government might want a share of your profits
Big Tech hoping to make a killing by having their chip expansion plans financed by the US government might want to look at the small print.
Big chip makers have been looking to the US government which wants to shorten supply chains away from China. The Biden government has promised $52 billion to Big Tech to build high tech fabs under the CHIPS semiconductor subsidy.
But according to a new document issued by the US Commerce Department companies that receive part of the CHIPS semiconductor subsidy from the US government will have to give up any significant excess profits that they accrue. If companies make much more than they expected, they’ll have to pay money back to the government.
Big Tech hoping to make a killing by having their chip expansion plans financed by the US government might want to look at the small print.
Big chip makers have been looking to the US government which wants to shorten supply chains away from China. The Biden government has promised $52 billion to Big Tech to build high tech fabs under the CHIPS semiconductor subsidy.
But according to a new document issued by the US Commerce Department companies that receive part of the CHIPS semiconductor subsidy from the US government will have to give up any significant excess profits that they accrue. If companies make much more than they expected, they’ll have to pay money back to the government.
