America's $53 Billion Chip Fund Will have a Tough Application
For more crisp and insightful business and economic news, subscribe to The Daily Upside newsletter. It's completely free and we guarantee you'll learn something new every day.
Turns out the CHIPS Act comes with silicon strings attached.
On Tuesday, the Commerce Department announced any company looking to get a piece of the $53 billion pie made available through the Chips and Science Act will not see one penny unless they meet strict requirements like limiting their stock buybacks and not doing business in "countries of concern" -- i.e., China -- for a decade, Bloomberg reported.
Source Fool.com
