UPDATE 1-US expects to make multi-billion chips awards within the next year

U.S. Commerce Secretary Gina Raimondo said she expects to make around a dozen semiconductor chips funding awards within the next year, including multi-billion dollar announcements that could drastically reshape U.S. chip production. She announced the first award on Monday – $35 million to a BAE Systems facility in Hampshire to produce chips for fighter planes from the "Chips for America" semiconductor manufacturing and research subsidy program approved by Congress in August 2022. "Next year we'll get into some of the bigger ones with leading-edge fabs," Raimondo told reporters.