US PLANS $162 MILLION AWARD TO MICROCHIP TECHNOLOGY TO BOOST PRODUCTION

The U.S. Commerce Department said on Thursday it plans to award Microchip Technology (MCHP.O) $162 million in government grants to step up U.S. production of semiconductors and microcontroller units (MCUs) key to the consumer and defense industries. The funds will allow Microchip to triple production of mature-node semiconductor chips and microcontroller units at two U.S. factories.

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