Intel has been awarded up to $8.5 billion from the government as part of the CHIPS Act

Intel has been awarded up to $8.5 billion in direct funding from the federal government as part of the CHIPS Act, according to the White House. The company could also receive up to $11 billion in loans tied to the legislation, which was passed in 2022. This funding will be used for commercial semiconductor projects, highlighting the Biden administration’s push to subsidize semiconductor manufacturing on U.S. soil. Intel plans to spend its CHIPS Act funds on fabs and research centers in Arizona, Ohio, New Mexico, and Oregon. The company has previously announced plans to spend $100 billion on U.S. programs and facilities.