Posted 3/21/2024, 6:56:00 PM
Intel Receives $20 Billion in Federal Chip Subsidies for New U.S. Semiconductor Factories
- Intel to receive $20B in federal subsidies under CHIPS Act to advance semiconductor projects in 4 states
- Funding includes $8.5B in direct funding from Commerce Dept. and $11B in loans + tax credits from Treasury Dept.
- Money to help build 2 new factories, modernize 1 facility in Arizona; chip project in Ohio; packing facility in NM; R&D expansion in Oregon
- Chips made expected to be world's most advanced, focus on AI and networking components for range of tech
- Part of broader CHIPS Act to boost domestic chip production, reduce reliance on Taiwan and China
