Intel (INTC) awarded up to $8.5B from U.S. in direct funding under CHIPS and Science Act
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Intel and Biden-Harris Administration Announce Preliminary Terms for up to $8.5 Billion in Direct Funding Under CHIPS and Science Act
March 20, 2024 5:08 AM EDTProposed funding, coupled with an investment tax credit and eligibility for CHIPS Act loans, would help Intel advance American semiconductor manufacturing and technology leadership in the AI era.
NEWS HIGHLIGHTS
U.S. Department of Commerce has proposed up to $8.5 billion in direct funding through the CHIPS and Science Act to advance Intels commercial semiconductor projects in Arizona, New Mexico, Ohio and Oregon. Intel also expects to benefit from a U.S. Treasury Department Investment Tax Credit (ITC) of up to 25% on more than $100 billion in qualified investments and... More