Edgewater Wireless Systems Inc (KPIFF)

[KPIFF-LDDFF]

Pentagon Scraps Plan to Spend $2.5 Billion on Intel Grant

https://finance.yahoo.com/news/pentagon-scraps-plan-spend-2-204450633.html

https://www.reddit.com/r/EdgewaterWireless/s/igM5jRYK7d

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It’s the latest complication for the Chips Act, which became law in 2022. The Commerce Department has emphasized that it doesn’t want to give any company a penny more than needed. The agency only has $39 billion in grant funding to build a portfolio of projects spanning large-scale manufacturing, smaller-scale supply chain efforts, and commercial research and development.

That’s a lot of taxpayer money, but it’s a drop in the bucket for the overall chip industry. Advanced chipmakers alone have requested more than double the money set aside for them. And more than 600 firms have expressed interest in federal grants. The Commerce Department also has a loans and guarantees pool worth $75 billion, but the companies aren’t all interested in that financing.

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The Commerce Department has already announced three awards to firms that manufacture older-generation chips, including a $1.5 billion grant to GlobalFoundries, which is among the top suppliers of older processors to the US military.

GlobalFoundries lobbied against the defense provision for Intel as government funding bills moved through Congress last week, according to people familiar with the matter. Some lawmakers have also expressed concerns about relying on just one company — Intel — to make cutting-edge chips for the most sensitive US government applications.

Right Approach?

In a statement, GlobalFoundries said it doesn’t believe Intel’s sole Secure Enclave designation is the right solution.

“GlobalFoundries has been a secure chip provider for decades,” a company spokesperson said. “We appreciate the US government’s effort to address the challenge. We have a proven approach.”

The Chips Act received bipartisan support, fueled by concern that a faltering domestic semiconductor industry was a national security problem — particularly in light of Washington’s growing rivalry with Beijing.

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https://www.reddit.com/r/EdgewaterWireless/s/HeJtIimt3v

https://www.reddit.com/r/EdgewaterWireless/s/8ENrlYO16h

https://www.businesswire.com/news/home/20240229531503/en/Edgewater-Wireless-Selected-to-Join-the-Alliance-of-Semiconductor-Innovation-Canada-ASIC