The US Department of Commerce announced the allocation of $50 billion for the development of semiconductor production. It is noted that this is the largest funding for the industry in recent years, The New York Times reported.

$28 billion will be allocated by the CHIPS for America (Creating Helpful Incentives to Produce Semiconductors) fund, the funds will be directed to grants to increase production and assembly capacities.

Another $10 billion will be spent on expanding the production of technologies for older generations of chips used in the automotive and communications industries. They plan to allocate $ 11 billion for initiatives in the field of research and development.

The administration of US President Joe Biden has previously imposed restrictions on the sale of chips used for supercomputers and artificial intelligence to Russia and China.

GPU makers Nvidia and AMD said the government is now requiring export licenses to sell two kinds of high-performance server system chips. Thus, Washington is trying to achieve a restriction on the use of semiconductors for military purposes by Russia and China.