US to invest $162m in two Microchip Technology manufacturing projects

News Snapshot:

Microchip Technology has struck a big deal with the US government under the CHIPS and Science Act which focuses on beefing up the region’s chips industry against Chinese competition. As part of its bid to boost its indigenous semiconductor industry, the US government said it is planning to invest “approximately $162m” in one company operating in the sector. The announcement was made today (4 January) by the US government’s Department of Commerce. The money will go to Arizona-headquartered company Microchip Technology, which manufactures and supplies chips to a variety of clients in industries such as automotive, consumer, aerospace, defence and...