Biden administration plans to award Rocket Lab $23.9 million to produce satellite and spacecraft chips

Rocket Lab’s funds are to come from the Biden administration’s $52.7 billion chip manufacturing and research subsidy program that has benefited companies like South Korea’s Samsung Electronics, Intel, and Taiwan’s TSMC.

The U.S. Commerce Department said on Tuesday it planned to award Rocket Lab $23.9 million to dramatically boost the production of compound semiconductors used in satellites and spacecraft.