Microchip Technology set to get $162 million award under CHIPS Act: White House

Microchip Technology MCHP, -2.30% is the second company to ink a preliminary memorandum of terms with the U.S. Commerce Department under the CHIPS & Science Act, according to a statement released by the White House attributed to National Economic Advisor Lael Brainard. Microchip Technology will receive $162 million. “The chips and microcontroller units (MCUs) that Microchip fabricates are essential components in a wide range of consumer and defense products that are critical to American manufacturing,” sai ...