WASHINGTON (AP) — The Biden administration is announcing an investment of $5 billion in a public-private consortium aimed at supporting research and development in advanced computer chips.

The announcement of the chip investment came Friday.

The National Semiconductor Technology Center is being funded through the 2022 CHIPS and Science Act.

That law aims to reinvigorate the computer chip sector within the United States through targeted government support.

Commerce Secretary Gina Raimondo says, “We need to be building for the future and that means making investments in R&D.”