GlobalWafers Says It Will Not Build New Semiconductor Plants Unless Congress Unlocks $52B in Funding

The world’s third-largest maker of semiconductor wafers, Taiwan’s GlobalWafers, announced plans to build a $5 billion factory in the U.S. on Monday—but only if the government helps pay for it.

Congress actually passed the CHIPS Act, which proposed $52 billion in funding for local players to invest in the domestic chip industry, in January 2021. But, over a year later, Congress has yet to formally allocate any budget to finance the bill.