Intel Secures $7.9B CHIPS Act Grant Amid Funding Adjustments
TL;DR Summary
The U.S. Department of Commerce has awarded Intel $7.865 billion under the CHIPS and Science Act to boost domestic semiconductor manufacturing, focusing on projects in Arizona, New Mexico, Ohio, and Oregon. This funding supports Intel's transition to a foundry model and its $100 billion domestic investment plan, despite recent financial challenges and workforce reductions. The initiative aligns with the Biden Administration's goal to reduce reliance on foreign chip production and strengthen U.S. economic and national security.
Topics:business#biden-administration#chips-act#domestic-production#intel#semiconductor-manufacturing#technology
- Intel and Biden Administration finalize $7.86B CHIPS Act grant for domestic manufacturing TechCrunch
- Intel and Commerce Department finalize $7.9 billion CHIPS Act grant CNBC
- Biden Cuts Intel’s Chip Award by More Than $600 Million The New York Times
- Intel Falls On Smaller CHIPS Act Award Investor's Business Daily
- Intel Receives $7.9 Billion in Chips Act Funding. It Can’t Buy Back Stock for Five Years. Barron's
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