On Tuesday, August 9th, President Biden sat down at a table on the White House Lawn for the highly anticipated signing of the CHIPS and Science Act of 2022. With the stroke of his pen, President Biden released public investments including 52.7 billion appropriations for semiconductor incentives; a new 25% tax credit for investments in semiconductor manufacturing facilities in the United States; $170 billion authorization for R&D programs including $20B for a new technology directorate within the National Science Foundation.
I was particularly pleased to see the additional funding for R&D and the NSF beyond the 52.7 billion we’ve all been fixated on. it’s always nice to see the big picture.
The day before, a one-day CEO Summit, hosted by GlobalFoundries and Applied Materials, brought together leaders from the semiconductor industry; automotive, technology, and advanced systems companies; and the White House and Dept. of Defense to discuss how the investments set forth by the CHIPS and Science Act can be used to “accelerate semiconductor and emerging technology manufacturing, support the electrification of automobiles with a ready supply of chips, including feature-rich chips, and strengthen the United States economy, supply chains, and national security.”
The ink was barely dry on the document when Micron announced its $40B investment in memory manufacturing, which is expected to create 40K jobs in construction and manufacturing. Additionally, Qualcomm and GlobalFoundries announced a partnership to invest $4.2B in GF’s Upstate New York facility, with a goal of increasing production by up to 50% in the next five years. You can find more details here.
In the days that followed, my Linkedin feed lit up with photos from both events, and I was pleased to see some familiar names and faces from the 3D InCites Community. Kevin Engl, CEO, Amkor Technologies; Anirudh Devgan, President, and CEO, Cadence; Tim Archer, CEO Lam Research; Ajit Manocha, President, and CEO, SEMI; and Larry Smith, President of TEL US, were on the guest list for the CEO Summit. Manocha, Archer, and Rick Wallace, CEO, KLA attended the signing itself.
While not all of our members were able to provide comments on the experience, some did, as well as the following photos. (Feature photo credit: GlobalFoundries)
On his LinkedIn profile, Rick Wallace, CEO of KLA said:
“This morning, I was proud to represent KLA in joining President Joe Biden as he signed the CHIPS and Science Act into law. Continued investment in the semiconductor industry will help alleviate the pressure on the semiconductor supply chain and allow businesses to continue to deliver the technologies we rely on today and in the future.
Lam’s Tim Archer sent along his thoughts:
“The development and manufacturing of semiconductors are key to achieving technological advancements that are critical to improving our lives and conquering our biggest challenges, from reducing our carbon footprint to curing devastating diseases to more deeply understanding the universe.
Our industry provides tens of thousands of jobs in the U.S. across a broad range of disciplines, including nanoscale engineering, plasma physics, materials science, advanced robotics, and manufacturing. To ensure a reliable, secure, and resilient supply of semiconductors, the government and industry must invest in advancing the technology roadmap while taking a holistic view of the value chain.
Today is a historic day for our industry. Lam Research applauds the signing of the CHIPS and Science Act and the progress it represents. The implementation of this legislation is beneficial for the semiconductor ecosystem and the U.S. innovation economy at large.”
Thanks all, for letting us share your experience with our community!