U.S. Department of Commerce announces major investments in three semiconductor companies

Three preliminary terms memoranda signed by the U.S. Department of Commerce under the CHIPS and SCIENCE Act show that the Biden administration will provide Coherent, SkyWater, and X-Fab with proposed direct subsidies of up to $33 million, $16 million, and $50 million, respectively. The funds will be used to support the modernization and expansion of the three companies in their respective facilities, and are expected to create more than 300 jobs.