Intel Awarded Nearly $8 Billion For US Chip Factories
The US Department of Commerce awarded Intel nearly $8 billion in direct funding under the CHIPS Incentives Program's Funding Opportunity for Commercial Fabrication Facilities. This follows the preliminary memorandum of terms signed earlier this year and comes as the Biden-Harris administration rushes to deliver billions of dollars in federal grants and loans to favored companies before President-elect Trump assumes office in early 2025.
The Commerce Department's $7.865 billion award of direct funding under CHIPS will support cutting-edge chip fabrication and advanced packaging at Intel's projects in Arizona, New Mexico, Ohio, and Oregon.
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