Intel will receive up to $8.5 billion from the US government to expand production
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Today, March 20, the administration of US President Joe Biden announcedthat Intel Corporation will receive up to $8.5 billion from the American authorities to expand semiconductor production. This is part of a $52.7 billion investment in chip design and manufacturing in the United States as part of the CHIPS Act, adopted in 2022. In addition, Intel will be able to receive another $11 billion in loans.
Intel itself said back in 2022 that it would invest up to $100 billion in expanding production in the United States, including the construction of a semiconductor production complex in Ohio, which could become the largest plant of its kind in the world. Today’s announcement said the US government funds will help Intel expand production at plants in Ohio, Arizona, Oregon and New Mexico and create 30,000 new jobs there.
In February, the US government did The first major investment under the CHIPS Act was allocated $1.5 billion to semiconductor manufacturer GlobalFoundries.
Read about what awaits the global semiconductor market in 2024 in the Kommersant article. “Chip of Good Hope”.
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