Intel Corporation (NASDAQ: INTC) secures $5.7 billion in accelerated funding through an amended CHIPS Act agreement with the US Department of Commerce. The deal also includes a total US government investment of $11.1 billion in Intel, giving them a 9.9% equity stake in the company.

Intel cannot use the funds for dividends or share buybacks, or expand operations in certain countries under the amended agreement. The US government investment in Intel consists of $2.2 billion in previously received grants and an $8.9 billion investment, with 274.6 million shares issued to the government.

Intel has placed 158.7 million shares in an escrow account for the Secure Enclave program, aimed at expanding advanced chip manufacturing. The government has the option to purchase up to 240.5 million more shares under specific conditions, with an overall equity stake of 9.9% in Intel.

Intel Corporation (NASDAQ: INTC) is a global company that designs, develops, manufactures, markets, and sells computing and related products and services. The company recently announced an amended CHIPS Act agreement with the US Department of Commerce, securing $5.7 billion in accelerated funding.

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Read more at Yahoo Finance: Intel Amends CHIPS Act Agreement, Secures $5.7B in Accelerated Funding