Biden races to allocate CHIPS Act funding to chipmakers: BBG

President Biden signed the CHIPS and Science Act into law in 2022, which provided roughly $39 billion in federal grants to boost semiconductor manufacturing within the United States. However, only a small fraction of the allocated funding has actually been distributed to chip companies so far. With just over two months remaining before President-elect Donald Trump reassumes office, Biden is now racing to finalize these CHIPS Act contracts before the transition of power, according to a Bloomberg report. Yahoo Finance special reporter Akiko Fujita breaks down the details, discussing the feasibility of Biden completing these deals within the limited time frame. #youtube #Biden #youtube About Yahoo Finance: Yahoo Finance provides free stock ticker data, up-to-date news, portfolio management resources, comprehensive market data, advanced tools, and more information to help you manage your financial life. - Get the latest news and data at finance.yahoo.com - Download the Yahoo Finance app on Apple (https://apple.co/3Rten0R) or Android (https://bit.ly/3t8UnXO) - Follow Yahoo Finance on social: X: http://twitter.com/YahooFinance Instagram: https://www.instagram.com/yahoofinance/?hl=en TikTok: https://www.tiktok.com/@yahoofinance?lang=en Facebook: https://www.facebook.com/yahoofinance/ LinkedIn: https://www.din.com/company/yahoo-finance