Intel receives $8.5 billion in funding for semiconductor projects in the US
Marc Nemitz
| 20.03.2024
The Biden administration has reached a preliminary agreement with Intel to provide up to USD 8.5 billion in direct funding for semiconductor projects. The investment is intended to expand Intel's manufacturing capacity and strengthen the US semiconductor industry
USA, March 20, 2024 - The Biden-Harris Administration has announced a tentative agreement with Intel to provide up to $8.5 billion in direct funding for commercial semiconductor projects. These funds are to be provided under the CHIPS and Science Act to support Intel's manufacturing and research activities in the states of Arizona, New Mexico, Ohio and Oregon. Intel plans to use these funds to expand its manufacturing capabilities and advance technology projects. The investment is expected to create thousands of direct and indirect jobs and strengthen the U.S. semiconductor industry. In addition, Intel plans to benefit from an Investment Tax Credit (ITC) from the U.S. Department of the Treasury and utilize federal loans. The agreement is subject to due diligence and negotiation of detailed terms and conditions.
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