Particle.news
Download on the App Store
4 ARTICLES
·
21m ago

Commerce Puts NIST in Charge of NSTC, Voids $7.4 Billion Natcast Agreement

The department says a Biden-era nonprofit setup violated the Government Corporation Control Act.

Semiconductor chips are seen on a circuit board of a computer in this illustration picture created on February 25, 2022. REUTERS/Florence Lo/Illustration/File Photo
Image
Image

Overview

  • The Commerce Department said NIST has assumed operational control of the National Semiconductor Technology Center effective immediately and will reform its operations to meet statutory requirements.
  • Officials declared the January 16, 2025 agreement that set aside up to $7.4 billion in advance payments for Natcast invalid and unenforceable.
  • Commerce cited the Government Corporation Control Act and said the CHIPS Act did not authorize creating an outside entity to operate the NSTC.
  • The department said it will not abide by the contract’s terms, noted the removal of a standard termination-for-convenience clause, and reserved the right to pursue legal remedies.
  • Natcast, a nonprofit staffed by former Biden officials and advisers, did not immediately respond to a request for comment.