Polar Semiconductor receives $123M in CHIPS Act money — company named as the first CHIPS Act awardee
Polar Semiconductor, a Minnesota-based manufacturer of sensor and power semiconductors, is the first company to be awarded under the CHIPS program, ahead of several other prospective recipients like Intel, Samsung, and TSMC. According to theU.S. Department of Commerce, the company will receive up to $123 million in direct funding, although the funds will be released in tranches according to completed milestones. The CHIPS Act fund will upgrade and expand Polar’s existing fab in Bloomington, Minnesota....