February 18, 2026–Written by Paul Wiseman for IIR News Intelligence (Sugar Land, Texas)–On January 26, the Department of Commerce’s CHIPS Program Office announced the signing of a non-binding letter of intent to provide up to $277 million in direct funding and up to $1.3 billion in a senior secured loan to USA Rare Earth (USAR) under the CHIPS and Science Act.
The bipartisan legislation, which is aimed at boosting the U.S. semiconductor industry and critical minerals availability, was signed into law in August 2022.
Companies featured: USA Rare Earth, Micron, SMART USA Institute, TSMC, Microchip Technology, BAE Systems and Amkor Technology.
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