Intel's CHIPS Act funding to decrease due to delays and increased competition.

From Investing.com: 2024-11-24 20:35:31

Intel’s funding under the CHIPS Act is expected to drop below $8 billion from $8.5 billion, as the company faces delays in planned investments and heightened competition. The decision follows delays in chip factory investments in Ohio, now expected to be completed by 2030 instead of 2025.

Despite Intel’s struggles, TSMC received a $6.6 billion grant from the Commerce Department for a new production plant in Arizona. The CHIPS Act, a Biden Administration initiative to boost U.S. chip technology, faces uncertainty under President-elect Donald Trump, who has criticized the program.



Read more at Investing.com: Intel to receive smaller CHIPS Act grant from Washington- NYT By Investing.com