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Intel will reportedly be awarded as much as $8.5 billion in federal grants related to the CHIPS Act, with up to $11 billion more in potential loans available. The funds are expected to be used for manufacturing and research facilities in Arizona, New Mexico, Ohio, and Oregon.
United States Secretary of Commerce Gina Raimondo told reporters that the funding will help “leading-edge semiconductors made in the United States” keep “America in the driver’s seat of innovation.” While Intel has been a longtime and reliable entity developing chips in the U.S. semiconductor industry, the company has been surpassed in revenue by Nvidia, which is currently the leader in AI chips.
Taiwan Semiconductor Manufacturing Company , meanwhile, has dominated semiconductor manufacturing in recent years, which is a reason why Intel is expected to become one of the largest beneficiaries of the CHIPS Act, which seeks to encourage companies to establish facilities in the U.S. in an effort to stop potential supply chaos in case China ever decides to invade Taiwan.
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