"Government Grants $8.5 Billion to Intel for Chip Plant Expansion Across 4 States"

The Biden administration has secured a deal to provide Intel with up to $8.5 billion in direct funding and $11 billion in loans for computer chip plants in four states, aiming to boost the U.S.'s global share of advanced chip production from zero to 20%. This investment is part of the bipartisan 2022 CHIPS and Science Act and is seen as crucial for national security and economic growth. Intel's CEO views this as a defining moment for the semiconductor industry, with the funding expected to create 30,000 manufacturing and construction jobs and enable $100 billion in capital investments over five years.