Infinera Signs Non-binding Preliminary Memorandum Of Terms To Receive Up To $93M In Direct Funding As Part Of CHIPS Act Funding
Portfolio Pulse from Benzinga Newsdesk
Infinera has signed a non-binding preliminary memorandum to receive up to $93 million in direct funding as part of the CHIPS Act. This funding, along with investment tax credits, could total over $200 million in federal incentives, plus potential state and local incentives.
October 17, 2024 | 9:10 am
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Infinera is set to receive up to $93 million in direct funding from the CHIPS Act, potentially exceeding $200 million with additional incentives. This could significantly boost their financial position and growth prospects.
The direct funding and potential additional incentives from the CHIPS Act will likely enhance Infinera's financial resources, supporting its growth and development. This is a positive development for the company, likely to boost investor confidence and stock price.
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