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Investor Guide · Technology & Semiconductors

What Is the CHIPS Act and Which Stocks Benefit?

The CHIPS and Science Act, signed in 2022, allocated $52B for domestic semiconductor manufacturing and research. Direct subsidy awards go to companies building or expanding fabs in the U.S. Equipment makers benefit from the associated capex. The act also includes guardrail provisions restricting China fab investment for recipients.

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Updated: Mar 5, 2026 · 6:34pm ET
Ending Certain Tariff Actions
AAPL, ADM, BA, CAT
High Impact · 8/10
Modifying Duties to Address Threats to the United States by the Government of th
AAPL, ADM, CVX, INTC
High Impact · 8/10
Continuing the Suspension of Duty-Free De Minimis Treatment for All Countries
AAPL, AMZN, FDX, SHOP
Low Impact
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The Short Answer
Key Points
The CHIPS and Science Act, signed in 2022, allocated $52B for domestic semiconductor manufacturing and research. Direct subsidy awards go to companies building or expanding fabs in the U.S. Equipment makers benefit from the associated capex. The act also includes guardrail provisions restricting China fab investment for recipients.
INTC TSM MU AMAT LRCX KLAC
Which semiconductor companies received CHIPS Act funding?
Intel received ~$8.5B, TSMC received ~$6.6B, Samsung received ~$6.4B, and Micron received ~$6.1B in the largest awards. GlobalFoundries received ~$1.5B for trailing-edge specialty chips.

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Recent Executive Orders in This Area

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Ending Certain Tariff Actions
Ending Certain Tariff Actions
AAPL ADM BA CAT FDX
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Modifying Duties to Address Threats to the United States by the Government of th
Modifying Duties to Address Threats to the United States by the Government of the Russian Federation
AAPL ADM CVX INTC JPM
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Continuing the Suspension of Duty-Free De Minimis Treatment for All Countries
Continuing the Suspension of Duty-Free De Minimis Treatment for All Countries
AAPL AMZN FDX SHOP TGT
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Protecting the National Security and Welfare of the United States and its Citize
Protecting the National Security and Welfare of the United States and its Citizens from Criminal Actors and Other Public Safety Threats
AMZN CVS GOOGL JNJ JPM
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Related Policy Topics

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Semiconductor Stocks & Government Policy
CHIPS Act subsidies vs. export controls — the simultaneous push and pull on chip stocks.
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Stocks Affected by Export Controls
Semiconductor and tech revenue risk from BIS licensing requirements and entity list additions.
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Policy Topic
Stocks Affected by Tariffs
Manufacturers, importers, and trade-exposed companies — which stocks move when tariff policy shifts.
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