Microchip Technology set to get $162 million award under CHIPS Act: White House
Microchip Technology (MCHP) is the second company to ink a preliminary memorandum of terms with the U.S. Commerce Department under the CHIPS & Science Act, according to a statement released by the White House attributed to National Economic Advisor Lael Brainard. Microchip Technology will receive $162 million. "The chips and microcontroller units (MCUs) that Microchip fabricates are essential components in a wide range of consumer and defense products that are critical to American manufacturing," said the statement. BAE Systems (UK:BA) was the first company to reach a PMT, in an announcement made in December.
-Eleanor Laise
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01-04-24 0508ET
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