Biden Administration Pumps $504M To Boost AI, Chip Innovation In Tech Hubs

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Biden Administration Pumps $504M To Boost AI, Chip Innovation In Tech Hubs - Benzinga

Quick Summary:

The Biden administration has unveiled a $504 million funding package aimed at bolstering 12 regional technology hubs across the United States.

This initiative is part of a larger strategy to promote private investment in advanced industries outside traditional innovation centers, according to an official note from the White House.

What Happened: The funding, via the Department of Commerce, is intended to stimulate research in fields such as artificial intelligence, semiconductor manufacturing, and clean energy.