Intel awarded up to $8.5 billion in CHIPS Act grants, with billions more in loans available
Publishing timestamp: 2024-03-20 12:33:47
Summary
Intel is set to receive up to $8.5 billion in funding from the federal government as part of the CHIPS Act, with the potential for an additional $11 billion in loans. This highlights the Biden administration's push to bring semiconductor manufacturing to the U.S. Intel plans to use the funds for fabs and research centers in various states, aiming to catch up in leading-edge manufacturing by 2026. Other companies like Nvidia, AMD, and TSMC are also expected to benefit from the CHIPS Act.
Sentiment: NEUTRAL
Tickers: INTC, QCOM, GFS, AMD, 2330-TW, NVDA, TSM, AAPL,
Keywords: nvidia corp, globalfoundries inc, business, intel corp, breaking news: technology, government and politics, mobile, joe biden, apple inc, qualcomm inc, business news, advanced micro devices inc, technology, taiwan semiconductor manufacturing co ltd, united states,