The newly released White House budget for 2024 includes funding for the semiconductor industry, as well as research funds for AI and quantum technologies.

The White House budget provides almost $21 billion in discretionary spending for the CHIPS and Science Act. Signed into law last August, the legislation provides subsidies to entice semiconductor manufacturers to build chips in the U.S.

The budget also includes $1.2 billion to establish a technology, innovation and partnerships directorate that will focus on semiconductors, quantum information technologies and biotechnology.

Also included is $300 million for the National Science Foundation’s Regional Innovation Engines program, which supports research-focused partnerships and workforce development.

The White House budget allocated some $4 billion to fund the Regional Technology and Innovation Hub Program at the Economic Development Administration. The Tech Hubs will focus on technology development and entrepreneurial development in a bid to create more innovation and tech-related jobs.

A further $210 billion will be used for federal-level research and development. The Office of Science will look to support research into AI and quantum technologies, as well as microelectronics and isotope production.

In terms of defense, the budget states that the Department of Defense (DoD) will invest in new applications including AI and quantum, though no exact figures were provided. Back in 2021, the DoD announced its intention to spend $1.5 billion on AI over the next five years. The 2022-2023 budget included a $200 million provision covering AI for improving the U.S. military’s tactical capabilities.

The budget also proposes $3.1 billion for the Cybersecurity and Infrastructure Security Agency, a $145 million increase on the current budget.