Commerce Department Signs Terms for Nearly $100 Million in Chipmaker Funding

The proposed funding is subject to due diligence, negotiation, and the achievement of certain milestones before final awards are confirmed.

Employees work inside the clean room of semiconductor manufacturer SkyWater Technology in Bloomington, Minnesota, in April 2022. SkyWater Technology/Reuters

The U.S. Department of Commerce said on Dec. 6 that it had signed preliminary terms for nearly $100 million in proposed direct funding for chip manufacturers in Texas and Minnesota under the CHIPS and Science Act, to strengthen domestic semiconductor production.

The agreements involve three chip manufacturers: Coherent, SkyWater Technology Foundry Inc., and X-Fab.