February 17, 2024Anmol Nagpal

US considers over $10 billion in subsidies for Intel

The United States government is in talks to give more than $10 billion in subsidies to Intel Corp, according to media reports.

Source: Pixbay

Negotiations are underway, and Intel's award package will likely include both loans and direct grants, according to the report.

Source: Unsplash

The US Department of Commerce, which oversees the disbursement of CHIPS Act funds, and Intel declined to comment.

Source: Pexels

The department has already announced two smaller Chips Act grants.

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US Commerce Secretary said that the department has planned to make several funding awards within two months from the government's $39 billion program to boost semiconductor manufacturing.

Source: AP

The semiconductor fund is intended to subsidize chip production and related supply chain investments, and the awards will help build factories and increase production.

Source: Pexels

Intel plans to spend tens of billions of dollars to fund chip factories at longtime sites in Arizona and New Mexico, along with a new site in Ohio.

Source: Unsplash

Micron and Samsung Electronics are also constructing new chip factories in the US and have applied to the program.

Source: Pexels