U.S. allocates $59.4M to BAE and Rocket Lab to boost chip production for defense and solar cells.

The U.S. Commerce Department has finalized $59.4 million in subsidies for BAE Systems and Rocket Lab to boost semiconductor chip production. BAE Systems will receive $35.5 million to quadruple production of key chips for F-35 fighter jets and satellites, while Rocket Lab will get $23.9 million to increase solar cell production by 50% over three years. The funding is part of the Biden administration's $52.7 billion Chips and Science program to strengthen domestic semiconductor manufacturing.

November 25, 2024
18 Articles