Over $5 billion will be invested in labor needs, research, and development linked to semiconductors by the Joe Biden-Kamala Harris administration. The funding will enable the National Semiconductor Technology Centre (NSTC) to further Biden's objectives of promoting US R&D.

The White House stated in a statement late on Friday that the NSTC will guarantee that the US leads the way in the next generation of semiconductor technologies by supporting the design, prototyping, and piloting of the newest semiconductor technologies. In order to guarantee that innovators have access to essential capabilities and to develop a qualified and diverse workforce in semiconductors, it will also help to use shared facilities and expertise.

The investments "advance US leadership in semiconductor R&D, cut down on the time and cost of commercializing new technologies, bolster US national security, and connect and support workers in securing good semiconductor jobs," according to a statement released as part of the implementation of the CHIPS and Science Act.

The US currently produces less than 10 percent of global supply and none of the most advanced chips. By committing a "historic investment" in US semiconductor production, R&D, and labor, the CHIPS and Science Act seeks to change that.

Funding for four programs—the NSTC, the CHIPS Metrology initiative, the National Advanced Packaging Manufacturing Programme (NAPMP), and the CHIPS Manufacturing USA Institute-totals $11 billion as part of the CHIPS R&D initiative.

According to the US government, "the NSTC will bring together and support government, industry, labor, customers, suppliers, educational institutions, entrepreneurs, and investors to directly address fundamental needs for a skilled, diverse semiconductor workforce, and lower barriers to participation in semiconductor R&D and accelerate the pace of new innovations."