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The U.S. Department of Commerce said the technology will promote partnering enterprises.
Washington:
The U.S. Commerce Department said Tuesday it plans to give HP $50 million to help expand and modernize an existing company facility in Oregon that will boost key semiconductor technologies.
The department said the proposed funding would support technologies that use life sciences equipment and technology hardware in artificial intelligence applications and other projects.
Congress approved a $39 billion subsidy program for U.S. semiconductor manufacturing and related components in August 2022, along with $75 billion in government borrowing authority and a 25 percent investment tax credit worth $24 billion.
The projects build on HP’s expertise in microfluidics and microelectromechanical systems, with funding set to support the development of silicon devices used in drug discovery, single cell research, and cell line development. Life sciences lab equipment is important.
Commerce Secretary Gina Raimondo said the proposed funding of $50 million for the Corvallis, Oregon, HP campus “shows how we’re investing in every part of the semiconductor supply chain and drug discovery and life How important is semiconductor technology to innovation in key science instruments.”
The department said the technology will be developed by partner institutions, including Harvard Medical School, the US Centers for Disease Control and Prevention and Merck.
HP CEO Enrique Lores said the funding “provides HP with the opportunity to further invest in our microfluidics technology to modernize and expand our facility.”
The department has announced term sheets with 17 companies offering more than $32 billion in grants and up to $29 billion in loans.
It also made other major planned awards, including $6.4 billion to South Korea’s Samsung to expand chip production in Texas.
Intel won $8.5 billion in grants in March, while Taiwan’s TSMC received $6.6 billion to build its U.S. production and memory chip maker Micron Technology $6.1 billion to help fund plans for a domestic chip factory. Dollars won.
All awards are yet to be finalized and amounts are subject to change after due diligence by the Commerce Department.
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
