Biden administration awards Intel up to $3 billion under the CHIPS Act
Publishing timestamp: 2024-09-16 20:52:18
Summary
The Biden administration awarded Intel up to an additional $3 billion under the CHIPS and Science Act for the "Secure Enclave" program to expand the supply of microelectronics for the Department of Defense. Intel is building foundry plants in four states to increase domestic semiconductor manufacturing. Shares of Intel jumped 8% after announcing a separate entity for its foundry business. Intel CEO expressed frustration over heavy reliance on Taiwan Semiconductor Manufacturing. Intel's push for funding reflects its mission to fortify the domestic semiconductor supply chain.
Sentiment: POSITIVE
Keywords: technology, breaking news: technology, business, business news, intel corp, taiwan semiconductor manufacturing co ltd,
Source: https://www.cnbc.com/2024/09/16/intel-awarded-up-to-3-billion-under-chips-act.html