The application process for the $52 billion U.S. CHIPS Act ($39 billion for semiconductor manufacturing in the U.S., and $13 billion for research and development) is underway. Dozens of new fabs (a facility that makes chips) are under construction, with even more being expanded and retrofitted with new equipment. 

It's a new golden age for semiconductors, and investors are excited. One promising start-up, SkyWater Technology (NASDAQ: SKYT), is getting lots of attention because it's the only pure-play on U.S.-only chipmaking. Is it a buy?

SkyWater is a semiconductor foundry, a company that operates fabs for the manufacture of wafers (which get cut up into chips) and packaging facilities (where chips get assembled into computing devices). 

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Source Fool.com