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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