Despite allusions to nepotism and corruption, the Commerce Department hasn’t made clear what it wants to do with the newly clawed-back funds.
The U.S. Commerce Department has seized control of a $7.4 billion semiconductor research fund from the National Center for the Advancement of Semiconductor Technology (NATCAST), a private non-profit set up during the Biden administration, as per Reuters. Describing it as a “slushfund,” for ex-Biden admin officials, the Commerce Department promised greater oversight and accountability for where the funds are being spent, but didn’t provide any further detail.
One of the defining investments of the Biden administration was the CHIPS Act, which authorized close to $300 billion in investments to encourage the design, development, and manufacturing of cutting-edge semiconductors in the United States. The creation of NATCAST was a part of that, with $11 billion allocated for it to establish a range of research centers around chip design.
The Trump administration’s Commerce Department wants to bring this non-profit under its umbrella of control, though, and has announced it will be taking over a large portion of the organization’s funds moving forward.
