"Pentagon Withdraws $2.5B Intel Defense Chips Grant, Biden to Announce New Plan in Arizona"
President Biden and Commerce Secretary Raimondo are set to announce a multi-billion-dollar grant for Intel Corp to expand chip production in Arizona next week, as part of the U.S. CHIPS Act's efforts to boost domestic semiconductor production. Intel, with facilities in Arizona, has invited stakeholders to the event, and the U.S. government has been working to increase domestic semiconductor production through substantial funding.