Intel In Talks With Biden Administration For $10B Subsidy
Portfolio Pulse from Nabaparna Bhattacharya
Intel Corporation is in discussions with the Biden administration to receive over $10 billion in subsidies as part of the 2022 Chips and Science Act. This funding, aimed at reviving semiconductor manufacturing in the U.S., could include loans and direct grants. The effort reflects a strategic shift towards domestic chip production. Additionally, Intel is seeking to raise at least $2 billion in equity for a semiconductor plant in Ireland, following a partnership with Brookfield Infrastructure Partners for manufacturing expansion in Arizona.
February 17, 2024 | 7:32 pm
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Intel Corporation is negotiating for over $10 billion in subsidies from the Biden administration, aiming to enhance semiconductor manufacturing in the U.S. It's also raising funds for a new plant in Ireland.
The potential $10 billion subsidy from the U.S. government underlines a significant investment in Intel's domestic manufacturing capabilities, likely boosting investor confidence and potentially Intel's stock price in the short term. The move to raise $2 billion for an Ireland plant further demonstrates Intel's aggressive expansion strategy, which could be viewed positively by investors.
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