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  2. $8.5 billion
    • According to 2 sources
    American semiconductor pioneer Intel is set to receive up to $8.5 billion in direct government funding from the CHIPS and Science Act, part of an effort to advance U.S. chipmaking amid a booming AI industry and competition with China.
    SANTA CLARA, Calif., & WASHINGTON-- (BUSINESS WIRE)-- The Biden-Harris Administration announced today that Intel and the U.S. Department of Commerce have signed a non-binding preliminary memorandum of terms (PMT) for up to $8.5 billion in direct funding to Intel for commercial semiconductor projects under the CHIPS and Science Act.
     
  3. People also ask
    Did Intel get $8.5 billion in chips Act funding?The U.S. government granted Intel $8.5 billion in CHIPS Act funding. Gelsinger said restoring semiconductor leadership in the U.S. is “our calling.” (Credit: Intel Corporation) U.S. President Joe Biden speaks Wednesday, March 20, 2024, during an event on Intel’s Ocotillo Campus in Chandler, Arizona.
    What is Intel funding?Funding will help advance Intel’s critical semiconductor manufacturing and research and development projects at sites in Arizona, New Mexico, Ohio and Oregon – U.S. locations where the company produces some of the world’s most advanced chips and semiconductor packaging technologies.
    How much money will Intel receive under the chips & Science Act?On March 20, 2024, the U.S. Department of Commerce and Intel Corporation announced a preliminary memorandum of terms under which Intel will receive approximately $8.5 billion in direct funding under the CHIPS and Science Act.
    How much money will Intel get from the US government?It's the biggest CHIPS Act investment yet. Intel is getting a huge boost from the US government under the CHIPS and Science Act. The company could get up to $8.5 billion in direct funding from the government, according to the preliminary agreement it has reached with the Department of Commerce.
     
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