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The heads of chipmakers GlobalFoundries and Applied Materials and carmakers Ford Motor and General Motors were to meet at a closed-door summit with U.S. government officials on Monday to discuss administration plans to invest in semiconductors.

On Tuesday, President Joe Biden will sign legislation to subsidize the U.S. semiconductor industry and boost efforts to make the United States more competitive with China. The bill provides $52 billion in subsidies for chip manufacturing and research. It also includes an investment tax credit for chip plants estimated to be worth $24 billion.



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Chip Makers Gather In DC To Split The Spoils Of Microchip Legislation

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