Intel awarded almost $8 billion in bid to protect US chipmaking interests

Illustration: Alex Castro / The Verge

The Biden medication is giving Intel $7.865 cardinal successful CHIPS Act backing to boost home semiconductor manufacturing successful the US. The statement confirmed by the US Department of Commerce today is the largest grant granted nether the CHIPS Act to date, though notably smaller than the up to $8.5 cardinal earmarked for the spot shaper successful March.

“Today’s grant marks different cardinal measurement successful implementing President Biden’s CHIPS and Science Act and the Investing successful America docket to reshore manufacturing, make thousands of good-paying jobs, and fortify our economy,” White House Deputy Chief of Staff Natalie Quillian said successful the announcement.

The confirmed CHIPS concern volition beryllium enactment towards gathering and expanding Intel’s semiconductor...

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