US Chip Grants in Limbo as Lutnick Pushes Bigger Investments (3)

Commerce Secretary Howard Lutnick has signaled he could withhold promised Chips Act grants as he pushes companies in line for federal semiconductor subsidies to substantially expand their US projects, according to eight people familiar with the matter.

The Commerce chief wants firms that won awards from the 2022 Chips and Science Act to follow in the footsteps of Taiwan Semiconductor Manufacturing Co., which recently announced it will invest another $100 billion in US plants on top of a previous $65 billion pledge, the people said. Lutnick’s goal is to generate tens of billions of dollars in additional semiconductor investment ...