Commerce Secretary Howard Lutnick has indicated that he might withhold promised Chips Act grants unless companies receiving federal semiconductor subsidies significantly expand their US projects, according to eight sources familiar with the matter. The Commerce Secretary wants firms awarded under the 2022 Chips and Science Act to emulate Taiwan Semiconductor Manufacturing Co., which recently announced an additional $100 billion investment in US plants, on top of a prior $65 billion commitment. Lutnick aims to secure tens of billions in extra semiconductor investment commitments without increasing federal grant sizes, said the sources, who requested anonymity to discuss private matters.
— new from Bloomberg.com
