U.S. Commerce Department Issues First $123 Million Award to Polar Semiconductor

Sep 24, 2024, 09:05 AM

The U.S. Commerce Department has finalized a $123 million award for Polar Semiconductor, a Minnesota-based company, to boost chips production. This grant is part of the $52.7 billion CHIPS fund aimed at enhancing the domestic semiconductor industry. The funding will be used to expand Polar Semiconductor's plant in Minnesota. This is the first award from the CHIPS fund.