​Absolics, a glass substrate subsidiary of South Korea's SKC, has received $40 million in production subsidies from the U.S. Department of Commerce under the CHIPS Act, marking the first disbursement of a total $75 million package.

​In a major policy reversal, the U.S. Department of Commerce on May 13 announced the repeal of the Biden administration's AI Diffusion Rule and unveiled a series of new measures to tighten global controls on advanced semiconductor exports.