US DoC appoints Bill Frauenhofer as Director of CHIPS Program Office

The U.S. Department of Commerce announced the hiring of Bill Frauenhofer as the Director of the CHIPS Program Office. Mr. Frauenhofer will assume leadership over the implementation of $39 billion in semiconductor manufacturing incentives under the CHIPS and Science Act.

In this role, he will advance the CHIPS Program Office into a new era as it delivers much better deals than the previous administration for the U.S. taxpayer. CHIPS continues its critical work investing in the domestic semiconductor industry and rebuilding resilience across the semiconductor supply chain.

Frauenhofer transitions to federal civil service with an impressive 30-year career in investment banking, with significant expertise in the semiconductor and technology sectors. Most recently he served as Global Head of Semiconductor Investment Banking and Head of West Coast Technology Investment Banking at Morgan Stanley.

He brings a proven track record in advising global clients on a comprehensive spectrum of capital markets transactions, including initial public offerings (IPOs), equity and convertible securities, debt financings, and complex domestic and cross-border mergers and acquisitions. Frauenhofer is widely recognized for his integrity, work ethic, and ability to deliver exceptional strategic guidance.

“Semiconductors are fundamental to advancing our AI capabilities. Bill Frauenhofer’s leadership will revitalize semiconductor manufacturing in America, and deliver on this administration’s commitment to winning the AI race,” said Howard Lutnick, Secretary of Commerce.

“It is a truly exciting opportunity to join the Commerce Department and lead the CHIPS program into its next chapter,” stated Bill Frauenhofer, Director of the CHIPS Program Office. “I believe in this administration’s mission to rebuild a robust domestic semiconductor ecosystem and reshore American semiconductor manufacturing and jobs.”