WASHINGTON (Reuters) – GlobalFoundries and at least two other chipmakers are poised to receive their final Chips and Science Act awards from the Biden administration, a person briefed on the matter said, a sign of progress amid growing concerns about the pace of the award rollout.
The U.S. Commerce Department notified Congress at least three companies are close to receiving a final award, the person and another source said. The Commerce Secretary must notify appropriate committees at least 15 days before making any deal over $10,000,000.
Reuters could not determine the timing of the award announcement or the exact amount, though it is expected to be close to the initial sum.
A preliminary agreement was announced by the Commerce Department in February to award $1.5 billion to GlobalFoundries to build a new semiconductor production facility in Malta, New York, and expand existing operations there and in Burlington, Vermont.
(Reporting by David Shepardson, Alexandra Alper and Karen Freifeld; editing by Chris Sanders)
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