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Intel To Receive Nearly $8 Billion In Federal Funding Under CHIPS Act for US Expansion

Intel is set to receive nearly $8 billion in federal funding under the CHIPS and Science Act to expand its semiconductor manufacturing capabilities in the United States. This funding, part of a broader initiative to bolster domestic chip production, will support Intel's projects in Arizona, New Mexico, Ohio, and Oregon. The investment aims to enhance U.S. competitiveness in the global semiconductor market, reduce reliance on foreign manufacturing, and create thousands of jobs. The announcement was made by the U.S. Department of Commerce, highlighting the strategic importance of semiconductors for national security and economic growth.

Read the Full Benzinga.com Article at [ https://www.benzinga.com/news/large-cap/24/11/42187787/intel-to-receive-nearly-8-billion-in-federal-funding-under-chips-act-for-us-expansion ]