financetom
Technology
financetom
/
Technology
/
GlobalFoundries' poised to get final Chips Act award - source
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
GlobalFoundries' poised to get final Chips Act award - source
Nov 9, 2024 11:47 AM

WASHINGTON, Nov 6 (Reuters) - GlobalFoundries ( GFS )

and at least two other chipmakers are poised to receive their

final Chips and Science Act awards from the Biden

administration, a person briefed on the matter said, a sign of

progress amid growing concerns about the pace of the award

rollout.

The U.S. Commerce Department notified Congress at least

three companies are close to receiving a final award, the person

and another source said. The Commerce Secretary must notify

appropriate committees at least 15 days before making any deal

over $10,000,000.

Reuters could not determine the timing of the award

announcement or the exact amount, though it is expected to be

close to the initial sum.

A preliminary agreement was announced by the Commerce

Department in February to award $1.5 billion to GlobalFoundries ( GFS )

to build a new semiconductor production facility in Malta, New

York, and expand existing operations there and in Burlington,

Vermont.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
What the Options Market Tells Us About Applied Mat
What the Options Market Tells Us About Applied Mat
May 17, 2024
Deep-pocketed investors have adopted a bearish approach towards Applied Mat , and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in AMAT usually suggests something big is about to happen. We gleaned this information from our observations...
Corn price awaits more decline – Forecast today - 20-05-2024
Corn price awaits more decline – Forecast today - 20-05-2024
May 19, 2024
Corn Price Analysis Expected Scenario The corn price provided clear negative trades in the previous sessions, moving away from the $461.90 level, reinforcing expectations of continuing the bearish trend. This trend targets $449.20 as the next main station. Moving below the EMA50 supports the suggested bearish wave, which will remain valid unless breaching $461.90 and holding above it. Expected Trading...
Soybean price within tight range – Forecast today - 20-05-2024
Soybean price within tight range – Forecast today - 20-05-2024
May 19, 2024
Soybean Price Analysis Expected Scenario The soybean price keeps moving within a tight sideways range, settling around the EMA50. There is no change to the expected bearish trend on the intraday basis, which targets testing $1193.10 initially. Breaking this level will push the price towards $1165.00 as the next negative station. The bearish trend will remain valid unless breaching $1231.20...
Sugar price keeps declining – Forecast today - 20-05-2024
Sugar price keeps declining – Forecast today - 20-05-2024
May 19, 2024
Sugar Price Analysis Expected Scenario The sugar price returns to decline after the temporary rise witnessed in the previous sessions. It is waiting to surpass the $18.00 barrier to confirm opening the way to head towards the next target at $17.35. Therefore, we will continue to suggest the bearish trend for the upcoming period, supported by the EMA50. It is...
Copyright 2023-2025 - www.financetom.com All Rights Reserved