US signs letters of intent worth $874 million to boost semiconductor research

July 30 : The U.S. Department of Commerce said on Tuesday it has signed letters of intent to provide $874 million in incentives to seven companies developing semiconductor technologies for AI and advanced computing systems.The funding, to be issued under the CHIPS and Science Act, is part of a broader U.S. effort to strengthen domestic semiconductor production and reduce dependence on foreign suppliers.Here are some details:• GlobalFoundries will receive up to $300 million for the development of co-packaged optics, which combine light-based data transfer with AI processors for faster computing. • Kepler was allotted up to $245 million for new AI memory technology, while Multibeam Corporation will get up to $140 million for advanced chip-packaging equipment.• Extropic, Thintronics, OBSIDIA