US government trims Intel’s CHIPS Act subsidy to US$7.86 billion
The US Department of Commerce has awarded US$7.86 billion to Intel under the CHIPS and Science Act rather than the previously provisionally agreed US$8.5 billion.
The cut has been made after due diligence, which is part of the DoC’s process for awarding CHIPS Act funds. That process has taken into account an additional US$3 billion contract awarded to Intel by the Department of Defense under the Secure Enclave program designed to expand trusted manufacturing of leading-edge semiconductors for the US government.
The CHIPS Act funds are intended to support the build out of wafer processing and advanced packaging fabs in Arizona, New Mexico, Ohio and Oregon.
Intel said it also plans to claim the US Treasury Department’s Investment Tax Credit, which is expected to be worth up to 25 percent of qualified investments of more than US$100 billion.
“With Intel 3 already in high-volume production and Intel 18A set to follow next year, leading-edge semiconductors are once again being made on American soil,” said Pat Gelsinger, CEO of Intel, in a statement.
Related links and articles:
News articles:
Lattice Semiconductor mulls bid for Intel’s Altera
Intel declares huge loss but hopes for better in 2026
Intel seeks foundry alliance with Samsung, says report
Intel splits out manufacturing, pauses overseas fab builds
If you enjoyed this article, you will like the following ones: don't miss them by subscribing to :
