CHIPS Act Overview
The semiconductor provisions of the 
includes $52.7 billion in funding for a CHIPS for America Fund, a CHIPS for America Defense Fund, a CHIPS for America Workforce Fund, and a CHIPS for America International Technology Security and Innovation Fund. These funds support a variety of specific activities.
CHIPS for America Fund. The act provides $50.0 billion to the Department of Commerce for the CHIPS for America Fund for semiconductor incentives intended to develop domestic manufacturing capabilities as well as for R&D and workforce development. This includes $39 billion to incentivize investment in facilities and equipment in the United States for semiconductor fabrication, assembly, testing, advanced packaging, or research and development of semiconductors, and $11 billion to advance U.S. leadership in semiconductor research and development (R&D) through four programs: the CHIPS National Semiconductor Technology Center (NSTC), the CHIPS National Advanced Packaging Manufacturing Program (NAPMP), the CHIPS Metrology Program, and the CHIPS Manufacturing USA institutes.