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Posted on 07/30/2026 4:02:47 PM PDT by thegagline
The Department of Commerce quietly announced*** it will designate more than $870 million in federal incentives for semiconductor manufacturing in exchange for a minority equity stake in seven companies.
*** the National Institute of Standards and Technology (NIST) said Commerce’s CHIPS Research and Development Office signed letters of intent with seven companies to provide a combined $874 million in federal funding under the landmark CHIPS and Science Act. *** “The Department will receive a minority, non-controlling equity stake in each company as a condition for receiving the funds to enhance the return for the U.S. taxpayer,” NIST wrote.
Up to $300 million will go to GlobalFoundries,***while Kepler, ***will receive up to $245 million.
Multibeam Corp. will get up to $140 million ***NIST said, with remaining funds going to equipment makers*** “These strategic investments will enhance our country’s domestic capabilities, create high-paying jobs and keep America at the forefront of the semiconductor industry,” Commerce Secretary Howard Lutnick wrote in a press release. The announcement comes nearly a year after President Trump announced the federal government would take a 10 percent stake in Intel, one of the nation’s largest chip manufacturers, for roughly $11 billion in federal subsidies the company received. The practice has drawn criticism from Trump’s Republican base. Sen. Todd Young (R-Ind.), who drafted the foundation of the CHIPS and Science Act, said at the time the law never intended to let the federal government take a major stake in Intel or any other major company. The legislation, signed by then-President Biden in 2022, provides federal subsidies to domestic semiconductor manufacturers to boost domestic production in the U.S. Despite backlash last summer, the Trump administration moved last December to take a $150 million stake in xLight, a startup developing laser technology, in exchange for federal incentives.
(Excerpt) Read more at thehill.com ...
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Commies, BUT should the FEDS be funding these guys with Tax Money?
Technically, this’d fall under fascism which is the cooperation of the state and private production to achieve the ends of the state. As a stockholder, the government now has a “vote” in corporate decisions.
Was apoplectic when Obama took majority stake in GM during bankruptcy. (He Lost billions when he sold the stocks). Now eh 🤷♂️ what’s the difference between holding shares and guaranteed loans (Solyndra, Cresent Dunes and other Green New Deal guaranteed loans)
First, people would have to know what it means for the Commerce Dept. to “take an equity stake” in private companies.
The free money is baked in the cake, part of the CHIPS Act. Trump insisted on shares for the money. And why not? Taxpayers are footing the bill.
Commies, BUT should the FEDS be funding these guys with Tax Money?
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just first glance, but I’d rather see tax dollars going into a “ national wealth fund” type use, that funding who know what type of NGO’s that funnel money back to crooked pols or crooked pol friends & family
“But remember folks, socialism and communism are bad.”
POTUS Trump could shoot a pedestrian on 7th Avenue with all 3 networks covering it, and half of Free Republic will shout:
He deserved it! He was a pizza delivery guy!
As long as we have “free trade,” we need government intervention or all high value manufacturing will be in China or somewhere else.
The free money is baked in the cake, part of the CHIPS Act. Trump insisted on shares for the money. And why not? Taxpayers are footing the bill.
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Doesn’t matter. It’s socialism Jim. No conservative would support such a thing, and it has government choosing winners and losers.
Da, Tovarishch! With this initiative, we will be Bolshoi Chip Maker!
I don’t want to hear a word about Mamdani’s grocery stores from anyone who supports this.
Why can’t I get some NGO grift $?
This is wrong.
The government should not own equity stakes in companies. I did not vote for this.
You know people here on this website will support this and condemn Mamdani. They are hypocrites. When a Republican does it then it is good. When a Democrat does it then it is bad.
They have done so many times over the years. Most in defense companies to ensure weapons.
History. Try it.
The left are vermin, so of course we want that sob deported. This is not good either.
Why can’t I get some NGO grift $?
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not married into the right pol’s family?
I’ve concluded that some here have not principles other than “own the libs.”
“{They have done so many times over the years. Most in defense companies to ensure weapons.
History. Try it.”
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Having drunk deeply from the well of history, I’m curious whether you can find a real example of the US government taking an equity position in any defense contractor.
Extraordinary claims require extraordinary evidence.
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