Intel Finally Locks Down Billions in CHIPS Act Funding
After a long period of uncertainty, semiconductor giant (NASDAQ: INTC) finally has some clarity on the amount of funding it will receive from the U.S. government to help fuel its expansion plans. Intel is set to invest more than $100 billion in the U.S. over five years in a bid to retake manufacturing leadership and grow into the world's second-largest foundry.
The CHIPS and Science Act, which was signed into law in August 2022, set aside tens of billions of dollars for subsidies to revitalize and strengthen the U.S. semiconductor industry. That money has flowed at a slow trickle until now, contributing to delays in projects that are already underway.
In February, it was reported that Intel was postponing one of its big U.S. projects partly due to the lack of government funding. Intel's $20 billion project in Ohio, which includes two leading-edge chip factories, was originally set to come on line in 2025. Construction is now reportedly scheduled to drag on through most of 2026.
Source Fool.com
Intel Corp. Stock
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