Home ยป Government of the United States allocates $7.865 billion to support Intel under CHIPS Act legislation.

Government of the United States allocates $7.865 billion to support Intel under CHIPS Act legislation.

The US Department of Commerce has announced funding for the semiconductor industry under the CHIPS Act to promote chip manufacturing in the country with $7.865 billion, a decrease from the initial $8.5 billion figure.

Intel stated that this funding will be used for factories and research centers in Arizona, New Mexico, Ohio, and Oregon.

Intel CEO Pat Gelsinger mentioned that Intel 3 technology is in high production demand, while Intel 18A will start production next year, making Intel a semiconductor leader in the US producing truly in America.

Initially, Intel had plans to receive an additional loan of $11 billion, but the company has decided not to accept this loan and will opt for tax credits instead.

Source: Intel and The Wall Street Journal

TLDR: US Department of Commerce provides funding under the CHIPS Act to boost semiconductor industry, Intel to use funding for manufacturing facilities and research centers in multiple states, Intel to become a leading semiconductor manufacturer in the US, Intel opts for tax credits over additional loan.

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