US government plans to reduce Intel's $8.5 billion grant to less than $8 billion for chips.

From Investing.com: 2024-11-24 20:35:34

The U.S. government plans to reduce Intel Corp’s $8.5 billion federal chips grant to less than $8 billion, taking into account a $3 billion Pentagon contract offered to Intel. The total $20 billion grant and loan package was intended to boost domestic semiconductor chip output, marking the largest government outlay for this purpose.

As part of the 2022 CHIPS and Science Act, Intel in Arizona was set to receive a preliminary agreement for $8.5 billion in grants and up to $11 billion in loans. This initiative aimed to supercharge domestic semiconductor production with $52.7 billion in total funding, including $39 billion for production subsidies and $11 billion for research and development.



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