The US government has finalized nearly $8 billion in funding for Intel under the CHIPS and Science Act. The semiconductor manufacturer will receive approximately $7.86 billion to build new manufacturing facilities across four states – Arizona, New Mexico, Ohio, and Oregon. This is slightly less than the initial $8.5 billion announced in March.
As part of the agreement, Intel will also modernize existing facilities in the four states. According to Commerce Secretary Gina Raimondo, the CHIPS for America program aims to “supercharge American innovation and technology” and make the country more secure.
Intel is reportedly set to receive an additional $1 billion in funding later this year. However, President-elect Trump has expressed concerns over the CHIPS funding, arguing that tariffs on chips could have encouraged domestic semiconductor manufacturing.
The Biden administration’s push for the CHIPS funding comes as it seeks to allocate remaining funds from a $52 billion semiconductor stimulus package before President-elect Trump takes office.
Source: https://thehill.com/policy/technology/5010345-biden-administration-finalizes-nearly-8b-in-chips-funding-for-intel