U.S. gov't seizes $7.4 billion semiconductor research fund created under Biden admin, calling it 'illegal' — Lutnick says fund 'served as a semiconductor slush fund that did nothing but line the pockets of Biden loyalists with American

Date: 2025-08-26 13:19:29

The US Commerce Department of the Trump administration has pulled back billions of dollars in funding for a non-profit aimed at promoting US chip design and fabrication, suggesting that its appointment under the Biden administration somehow made it inappropriate for distributing taxpayer funds.

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