The United States government has approved funding under the CHIPS Act to promote the establishment of chip manufacturing plants in the country. This time around, Intel will receive a maximum initial grant of $8.5 billion for projects to build factories and research centers in Arizona, New Mexico, Ohio, and Oregon. Additionally, Intel may also request an additional $11 billion in loans.
Intel stated that this funding will be used for projects previously announced by Intel, aiming to invest over $100 billion in the United States in the next five years to support chip production according to various demands, including AI. Intel expects to create more than 10,000 jobs in manufacturing and 20,000 construction jobs, as well as over 50,000 indirect positions from support and related suppliers.
Details of Intel’s various projects include building Fab factories and upgrades in Arizona, upgrading packaging chip plants in New Mexico, establishing new plants in Ohio, and expanding development research centers in Oregon.
Previously, the United States government has approved funding through the CHIPS Act for GlobalFoundries, Microchip, and BAE Systems.
Source: Intel
TLDR: The US government approves funding for Intel under the CHIPS Act to support chip manufacturing plants in the country, with Intel set to receive a substantial grant and potentially more in loans for various projects in different states.
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