The White House said on Wednesday that Intel has been awarded up to $8.5 billion as part of the CHIPS Act.
Intel is in line to receive as much as $8.5 billion in direct funding from the federal government as part of the CHIPS Act, the White House said on Wednesday.
Intel could receive an additional $11 billion in loans from the CHIPS and Science Act, which was passed in 2022. The awards will be announced byThe money will help"leading-edge semiconductors made in the United States" keep"America in the driver's seat of innovation," U.S. Secretary of Commerce Gina Raimondo said on a call with reporters. Intel and the White House said their agreement is nonbinding and preliminary and could change.Intel has long been a stalwart of the U.
Ukraine war live updates: Ukraine's survival is in danger, Pentagon chief warns; Putin could make China his first visit of new term Intel said it would spend its CHIPS Act funds on fabs and research centers in Arizona, Ohio, New Mexico and Oregon. The company previously announced plans to spend $100 billion on U.S. programs and facilities. Intel has announced a plan to catch up in leading-edge manufacturing by 2026.will cost more than $20 billion and Intel said it is expected to start production in 2027 or 2028. Intel is also expanding manufacturing operations in Arizona and New Mexico.
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