Intel Awarded $8.5B in US Grants to Build Semiconductor Plants, Kickstarting Effort to Rebuild Domestic Supply Chains

Intel awarded $8.5B in US grants from CHIPS Act to build domestic semiconductor plants, with total investments reaching $45B including other funding
Grants will allow Intel to be more economically competitive in US manufacturing versus relying on Asia
Investments aimed at rebuilding US supply chains to reduce reliance on Asia for critical semiconductors
Intel CEO views it as a "defining moment" to transition supply chains back to the US and regain technology leadership
Additional policies and long-term incentives still needed over 10+ years to sustain a commercially viable domestic semiconductor ecosystem