CHIPS Act is working as billions of dollars in payouts is divvied out to semiconductor makers

More than a year and a half after the CHIPS and Science Act was signed into law, the Biden Administration has begun divvying up $52.7 billion in funding and tax incentives meant to spur semiconductor production on US soil, though the actual funding has yet to be dispersed.

Over the past several months, the administration, which championed the legislation, has allocated about $29 billion in funding among chipmakers, including Samsung, TSMC and Intel. In return, various chip designers and makers...