The US Commerce Department announced plans to award $50 million to HP Inc (NYSE:HPQ) for the expansion and modernization of its Oregon facility.
Reports suggest the investment will enhance key semiconductor technologies, particularly in life sciences instrumentation and AI hardware, and supports HP’s work in microfluidics and microelectromechanical systems, crucial for manufacturing silicon devices used in drug discovery and cell research.
The initiative is part of a broader $39 billion CHIPS Act subsidy program approved by Congress in 2022, aimed at boosting U.S. semiconductor manufacturing.
Commerce Secretary Gina Raimondo highlighted the investment as vital for innovation in drug discovery and life sciences.
HP CEO Enrique Lores noted the funding would allow the company to modernize its facility and advance its microfluidics technology.
The department has also announced over $32 billion in grants and $29 billion in loans for similar projects, including $6.4 billion to Samsung for Texas chip production expansion.