CHIPS Act

CHIPS Act, short for the Creating Helpful Incentives to Produce Semiconductors Act, is a U.S. law enacted in 2022 to boost domestic semiconductor manufacturing, research, and supply chain resilience. It provides billions in funding and tax incentives to encourage companies to build and expand chip fabrication facilities in the United States. The act aims to reduce dependence on foreign chip production, strengthen national security, and support innovation in industries like AI, defense, and advanced electronics.