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U.S. President Joe Biden at Intel’s Ocotillo Campus on March 20, 2024 in Chandler, Arizona.
Photo: Rebecca Noble (Getty Images)

As the Biden administration prepares to pass power to President-elect Donald Trump, U.S. chipmakers are rushing to finalize federal funding.

In 2022, President Joe Biden signed the bipartisan CHIPS and Science Act to boost semiconductor manufacturing, research, and development in the U.S. The $280 billion package includes $52 billion in subsidies for chips.

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