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    Biden, suddenly on a hot streak, signs semiconductor bill as businesses boost investment

    by Eli Stokols, Los Angeles Times Aug 09, 2022 3 minutes
    U.S. President Joe Biden speaks before signing the CHIPS and Science Act of 2022 during a ceremony on the South Lawn of the White House on Aug. 9, 2022, in Washington, DC.

    WASHINGTON — President Joe Biden signed a broad competition bill into law Tuesday that will direct $52.7 billion toward domestic semiconductor research and development as part of an effort to make the U.S. less dependent on China and other Asian nations.

    Industry CEOs who attended the signing ceremony at the White House announced roughly $50 billion in new investments, lending additional significance to the first of several victories the administration plans to celebrate this week. Micron Technology Inc.

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