Intel And Biden-Harris Administration Announce Preliminary Terms For Up To $8.5B In Direct Funding Under CHIPS And Science Act
Portfolio Pulse from Benzinga Newsdesk
Intel and the Biden-Harris administration have announced preliminary terms for up to $8.5 billion in direct funding from the CHIPS and Science Act. This funding aims to bolster semiconductor manufacturing in the U.S., aligning with national efforts to strengthen the domestic supply chain and reduce dependency on foreign semiconductor production.
March 20, 2024 | 9:09 am
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Intel's agreement for up to $8.5 billion in funding under the CHIPS and Science Act is a significant boost for its semiconductor manufacturing capabilities in the U.S.
The funding from the CHIPS and Science Act is a direct investment into Intel's infrastructure and capabilities in semiconductor manufacturing. This is expected to enhance Intel's competitive position in the global semiconductor market and is likely to be viewed positively by investors, potentially leading to a short-term increase in stock price.
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