manufacturing

Texas Instruments awarded $1.6 billion in CHIPS Act funding for domestic silicon production
17 Aug

Texas Instruments awarded $1.6 billion in CHIPS Act funding for domestic silicon production

stp2y0 CommentsNews, , , , , ,
Texas Instruments is the latest recipient of CHIPS Act funds. The 2022 law, signed by President Biden to boost domestic silicon production in the face of increasing Chinese chip imports, will award TI $1.6 billion in grants. The company will also receive $3 billion in loans and tax credits that could amount to $6 to $8 billion.The effort is expected to create over 2,000 US manufacturing jobs at Texas Instruments’ new plants and “thousands of indirect jobs” for construction, suppliers and supporting industries. TI says it expects to receive another $10 million to fund workforce development.TI’s grant money will go…
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Palmer Luckey’s Defense Startup, Anduril, Raises $1.5 Billion to Produce AI-Powered Weapons
08 Aug

Palmer Luckey’s Defense Startup, Anduril, Raises $1.5 Billion to Produce AI-Powered Weapons

stp2y0 CommentsAI, , , ,
Palmer Luckey has come a long way from hacking together virtual reality headsets in a garage. Today, the Oculus VR founder’s defense tech startup, Anduril, announced that it has raised $1.5 billion in addition to developing a new manufacturing platform to produce “tens of thousands of autonomous weapons” a year.The funding round, led by Founders Fund and Sands Capital, could help the seven-year-old Anduril transition from a flashy defense industry upstart to a more serious US defense contractor.It also reflects a shift in military thinking, as policymakers adapt to the prospect of battlefields ruled not only by tanks and fighter…
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