Commerce Secretary Lutnick Voids $7.4B Semiconductor Grant to NATCAST

Commerce Secretary Howard Lutnick voided a $7.4 billion CHIPS Act grant to the National Center for the Advancement of Semiconductor Technology (NATCAST), a nonprofit created by the Biden administration to build US semiconductor workforce infrastructure. Lutnick called the grant a "slush fund" and directed the funds be recompeted under new terms favoring private commercial chip manufacturers over the nonprofit educational consortium.