Intel to receive $7.86 billion subsidy from US government

The US Commerce Department has finalized a $7.86 billion subsidy for Intel, reduced from the previously announced $8.5 billion after Intel secured a separate $3 billion Pentagon contract. The funding will support nearly $90 billion in manufacturing investments across Arizona, New Mexico, Ohio, and Oregon. Intel is expected to receive at least $1 billion by December 2024. This represents the largest award under the 2022 CHIPS Act’s $52.7 billion semiconductor initiative.READ FULL