Titanium Media App reported on August 9, according to market news, US President Biden will sign a bill to provide US$52.7 billion in subsidies for US semiconductor production and research. In a rare major attempt at U.S. industrial policy, the bill also includes a 25 percent investment tax credit for chip factories, worth an estimated $24 billion, the report noted. The bill would also authorize $200 billion over 10 years to advance scientific research in the United States. Congress still needs to pass separate appropriations legislation to fund these investments. The report quoted the White House as saying that the passage of the bill would stimulate new chip investment. Qualcomm on Monday agreed to buy an additional $4.2 billion in chips from GF's New York factory, bringing its purchase commitment to $7.4 billion through 2028.
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