Intel Set to Receive Over $10 Billion in CHIPS Act Subsidies

The Biden administration is finalizing negotiations to grant Intel more than $10 billion in subsidies to bolster U.S. semiconductor manufacturing.

Intel is in advanced talks with the Biden administration to secure over $10 billion in subsidies under the CHIPS Act.
The subsidy package is expected to include both loans and direct grants, marking the largest allocation under the act.
Intel's demand for additional subsidies comes as it ramps up developments of semiconductor facilities in Ohio, Arizona, and New Mexico.
The CHIPS Act aims to reduce U.S. reliance on semiconductor manufacturing in Taiwan and China by encouraging domestic production.
Intel's CEO Pat Gelsinger claims the company deserves a larger share of the CHIPS Act due to its significant investment in U.S. manufacturing.