Biden signs the CHIPS and Science Act into law

President Joe Biden signed the CHIPS and Science Act on 9 August 2022. It authorized roughly 280 billion dollars in spending and appropriated 52.7 billion dollars in direct funding for domestic semiconductor manufacturing, research, and workforce development.

Why it mattered The law was the largest United States industrial-policy move in chip manufacturing in decades, aimed at reducing reliance on the overseas production that AI hardware rests on.