Intel is in line to receive up to $8.5 billion in direct funding from the federal government as part of the CHIPS Act, passed in 2022. The company could also receive up to $11 billion in loans tied to the legislation. The money will help "leading-edge semiconductors made in the United States" and keep "America in the driver's seat of innovation." The CHIPS Act targeted nearly $53 billion in incentives to encourage companies to build chip factories, or fabs, in the U.S. to avoid supply disruptions.
Category
🗞
NewsTranscript
00:00 It's Benzinga and here's what's on the block.
00:02 Intel is in line to receive up to $8.5 billion in direct funding from the federal government as part
00:07 of the CHIPS Act, which was passed in 2022. The company could also receive up to $11 billion
00:13 in loans tied to the legislation. The money will help leading-edge semiconductors made in the
00:17 United States and keep America in the driver's seat of innovation. The CHIPS Act targeted nearly
00:22 $53 billion in incentives to encourage companies to build chip factories or fabs in the U.S.
00:28 To avoid supply disruptions, Intel said it will spend its CHIPS funds on fabs and research centers
00:33 in multiple U.S. states, creating over 30,000 jobs. For all things money, visit Benzinga.com.