Sources: Microchip Technology is pausing its application for $162M in CHIPS Act grants, as it plans to close a factory in Arizona, affecting ~500 employees (Mackenzie Hawkins/Bloomberg)

Mackenzie Hawkins / Bloomberg:
Sources: Microchip Technology is pausing its application for $162M in CHIPS Act grants, as it plans to close a factory in Arizona, affecting ~500 employees  —  – It had been in line to get $162 million in grants from program  — Company announced on Monday it will shut down Arizona plant