Opinionated summary:
- Despite Republican assurances, Trump called the CHIPS Act “horrible” and pushed for its scrapping, creating chaos for an industry already struggling with uncertainty.
- The Trump administration has already sabotaged the program by laying off key staff and considering changes to the projects, showing its disdain for U.S. industrial growth.
- Industry leaders, who have already committed billions to U.S. chip production, are now left in limbo, thanks to Trump’s shortsighted, destructive rhetoric.
If he scraps the CHIPs act, Intel will be bankrupt before the end of his term. Even worse, it could be bought by a private (in)equity fund.
Oh, so that’s why he wants to do it!
Not going to be great for Samsung either. They already invested a bunch of money to bring more industry to the states on the back of $45 billion in CHIPS act subsidies.
And Samsung is one of the 3 biggest corpos that control South Korea. We are fucking over the owners of our closest allies.
With loans that intel itself is ultimately responsible for.