Semiconductor Giants Await Billions in Subsidies from Federal CHIPS Act

Intel, among others, anticipates significant funding for its projects across the U.S., with distribution expected to start before March 7.

Intel and other major semiconductor manufacturers are awaiting the distribution of billions in subsidies from the $52.7 billion federal CHIPS Act to help fund their factory projects across the U.S.
The Biden administration is expected to start distributing the money before the State of the Union speech set for March 7.
Intel has applied for $43.5 billion in CHIPS money for its projects in New Albany, Arizona, Oregon and in New Mexico.
The CHIPS Act, signed into law by President Biden in August 2022, aims to boost the chip-making and semiconductor industry of America, with $52.7 billion of the act’s funds allocated for semiconductor manufacturing, R&D, and workforce development.
Despite the huge economic funding, there have been reservations about the policies set in the CHIPS Act, particularly by Intel, who believe they should get a larger portion of the funding since they are apparently 'more committed' to any other beneficiary.