President Joe Biden’s $39 billion semiconductor project is open for business

Illustration: Alex Castro / The Verge

The Biden administration launched its massive effort to outcompete China in semiconductor manufacturing Tuesday, offering $39 billion in funding incentives for companies seeking to build manufacturing plants in the US.

Authorized by the CHIPS and Science Act last year, the Commerce Department opened the application process Tuesday for companies jockeying for a share of the funding. This first round prioritizes applicants seeking to build domestic chip manufacturing facilities that can ensure the billions in taxpayer money are protected and leveraged to advance US national security goals.

“When we have finished implementing CHIPS for America, we will be the premier destination in the world where new leading-edge chip architectures can be…

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