Grifters gonna grift.

Around $20bn of government money was provided to Intel to build chip foundaries. The whole purpose was to de-risk chip manufacturing away from Taiwan and the #China “threat”.

Now looks like that was just more waste.

CHIPs Act funds were also allocated to Samsung and TSMC for the same purpose. These two groups have already stated that the boundaries will come online two years later than planned.

The prospects of re-industrializing locally in the States is a low probability prospect at best.