The Biden administration said Monday it has finalized a $53 million award for HP Inc. to expand research and manufacturing. The Commerce Department announced the subsidy last summer but other incentives have been downsized,

HP Inc (NYSE:HPQ) has won up to $53M in direct funding as part of the U.S. CHIPs Act to support domestic manufacturing of next-generation technologies and “Lab-to-Fab” ecosystem. This award, finalized under the CHIPS Incentives Program’s Funding Opportunity for Commercial Fabrication Facilities,