Wed, December 4, 2024
Tue, December 3, 2024

Microchip pauses chips act application after scaling back plans

Microchip Technology Inc. has decided to pause its application for funding under the U.S. CHIPS and Science Act after scaling back its expansion plans. The company, which had initially planned a significant investment in new facilities, has adjusted its strategy due to a reassessment of market conditions and demand forecasts. This decision reflects broader industry trends where companies are reevaluating their growth strategies amidst economic uncertainties and shifts in technology demand. The CHIPS Act aims to boost domestic semiconductor production, but Microchip's move indicates a cautious approach to expansion in the current economic climate.

Read the Full Business Times Article at:
[ https://www.businesstimes.com.sg/companies-markets/telcos-media-tech/microchip-pauses-chips-act-application-after-scaling-back-plans ]