U.S. plans $35-million award to BAE Systems to boost chip supply for F-35s

The U.S. Commerce Department said Monday it plans to award $35-million to BAE Systems to quadruple production in New Hampshire for key semiconductor chips used in F-35 fighter jets and commercial satellites. The announcement is the first from the $52.7-billion "Chips for America" semiconductor manufacturing and research subsidy program approved by Congress in August 2022 to ramp up U.S. chips production amid concerns about reliance on Asia. President Joe Biden said in a statement "over the coming year, the Department of Commerce will award billions more to make more semiconductors in America" and boost research and development. The department said…