The Commerce Department said it would grant Microchip Technology Inc. $162 million in federal funding from the CHIPS Act to boost chip production.The CHIPS funding will be used to modernize and expand Microchip factories in Colorado and Oregon.The grant is expected to help Microchip triple production at its facilities in Colorado and Oregon, as well as reduce reliance on foreign production.In a bid to bolster U.S. supply chains for crucial components, the Commerce Department said Thursday it would grant Mic ...