CHIPS incentives letter of intent — Vulcan Elements ($50 million)
Grant
Agency / program
CHIPS Program Office
Commerce incentives and loans extended beyond semiconductors to rare earth magnet and mining capacity in 2025-2026.
Agency: U.S. Department of Commerce
Authority: CHIPS and Science Act incentive authorities
Linked instruments
CHIPS incentives — USA Rare Earth (up to $277 million)
Grant
CHIPS loan agreement — USA Rare Earth (up to $1.3 billion)
Loan
Sources
- National Institute of Standards and Technology · published Jan 26, 2026 · retrieved Aug 11, 2026 · archive