The Commerce Department indicated that the federal government is on track to dole out millions of dollars to seven companies to fund technology development but will require the businesses to fork over equity in exchange for the money. "The Department of Commerce today announced the signing of 7 letters of intent to provide $874 million in federal incentives under the CHIPS and Science Act," a Wednesday press release noted. "These incentives will support innovative domestic technologies to dramatically increase the performance of the world’s fastest computers, secure domestic supply chains, and strengthen U.S. leadership in the compute supply chain." "The Department will receive a minority, non-controlling equity stake in each company as a condition for receiving the funds to enhance the return for the U.S. "GlobalFoundries will receive up to $300 million to accelerate the domestic research and development of co-packaged optics by two to three years.