U.S. Commerce Secretary Gina Raimondo said on Monday a proposed $52 billion boost in U.S. government funding for semiconductor production and research could result in seven to 10 new U.S. factories.
Raimondo said at an event outside a Micron Technology Inc. chip factory that she anticipated the government funding would generate "$150 billion-plus" in investment in chip production and research — including contributions from state and federal governments and private-sector firms.
"We just need the federal money ... to unlock private capital," Raimondo said, adding, "it could be seven, could be eight, could be nine, could be 10 new factories in America by the time we're done."