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  2. $8.5 billion
    • According to 3 sources
    The White House on Wednesday announced it will provide Intel with $8.5 billion in funding through the CHIPS Act. The infusion of cash, Intel (INTC) says, will fund sites at locations including the massive complex the company is building in Ohio, plants in Arizona and New Mexico, and its research and development facility in Oregon.
    Today, the Biden-Harris Administration announced that the U.S. Department of Commerce and Intel Corporation have reached a non-binding preliminary memorandum of terms (PMT) to provide up to $8.5 billion in direct funding under the CHIPS and Science Act to strengthen the U.S. supply chain and re-establish American leadership in semiconductor manufacturing.
    On March 20, 2024, the Biden-Harris Administration announced the biggest CHIPS and Science Act grant to date with Intel and the U.S. Department of Commerce signing a non-binding preliminary memorandum for up to $8.5 billion in direct funding to Intel for commercial semiconductor projects.
     
  3. People also ask
    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.
    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 does Intel's new funding mean for the semiconductor industry?The proposed funding would help advance Intel’s critical semiconductor manufacturing and research and development projects at its sites in Arizona, New Mexico, Ohio and Oregon, where the company develops and produces many of the world’s most advanced chips and semiconductor packaging technologies.
    How much money will Intel get from a 'chips & Science Act'?Under the terms of this deal, Intel stands to receive $8.5 billion in direct funding, access to $11 billion in low-interest loans, and up to $25 billion in investment tax credits. This funding is part of the CHIPS and Science Act of 2022, which aims to bolster US leadership in semiconductor technology.
     
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