The bill now goes to the White House where President Joe Biden is expected to sign it next week putting it into law.
The bill provides $52 billion in funding for the US chip indutry plus a 25% subsidy for US fab building. Another $200 billion for R&D requires further legislative approval.
Intel will now go ahead with the ground-breaking on its Ohio fab site which had been postponed pending passage of the Act.
“We were originally going to do that in the middle of July, and we said, ‘hey, we’re not going to do that until we have firmness of CHIPS Act’,” CEO Pat Gelsinger. told Reuters, “now we will get a firm date for groundbreaking A.S.A.P.”
