Intel and Biden-Harris Administration Finalize $7.86 Billion Funding Award Under US CHIPS Act
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Intel Corporation has been awarded up to $7.86 billion in direct funding by the U.S. Department of Commerce under the U.S. CHIPS and Science Act. This funding is part of the Biden-Harris Administration's efforts to boost semiconductor manufacturing in the United States.
November 26, 2024 | 10:15 am
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Intel has been awarded up to $7.86 billion in funding from the U.S. Department of Commerce under the CHIPS Act, which is expected to enhance its semiconductor manufacturing capabilities in the U.S.
The substantial funding from the U.S. CHIPS Act is likely to positively impact Intel's stock price in the short term as it strengthens its position in the semiconductor industry and aligns with government initiatives to boost domestic production.
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