Biden Touts $8.5B Intel Investment to Bring Chip Manufacturing Back to US

Biden touts $8.5B investment in Intel chip plants in Arizona as bringing high-tech manufacturing back to America
Funding comes from CHIPS Act passed by Congress to boost US chip production capacity from 0% to 20% of global output
Intel plans to invest $100B over 5 years to build new plants in AZ, OH, NM, OR with government funds covering costs
Commerce Secretary says failure to make advanced chips domestically is economic and national security risk
Intel CEO calls funding a "defining moment" for the semiconductor industry and wants a sequel to the CHIPS Act