On July 18, 2024, the U.S. Department of Commerce declared that it has signed a non-binding preliminary terms memorandum with a subsidiary of GlobalWafers. As per the announcement, the U.S. government will offer $400 million in direct funding to aid in the production of key semiconductor wafers, in accordance with the Chips and Science Act.

According to the U.S. Department of Commerce's notice, GlobalWafers plans to construct factories in states such as Texas and Missouri to manufacture 300mm silicon wafers. It is indicated that 90% of the subsidy will be allocated to the 12-inch wafer factory in Texas, with the remaining portion designated for the Missouri facility. The disbursement of funds is contingent upon the construction schedule and will be released upon inspection and confirmation by relevant government authorities.

This funding is a strategic move by the U.S. to bolster domestic semiconductor production capabilities, ensuring a robust supply chain for critical technology components. The investment is expected to have a significant impact on the semiconductor industry, enhancing the capacity for wafer production and supporting the growth of related sectors.