Intel and the Biden government have reached a "pivotal" agreement on the Chips Act, as Team Blue now secures up to $7.86 billion in direct funding.
Intel's Desperate Attempts To Get Its "CHIPS Act" Funds Released Has Now Paid Off, Apparently Showing The Confidence of US on Team Blue [Press Release]: Intel Corporation and the Biden-Harris Administration announced today that the U.S.
Department of Commerce and Intel have reached an agreement on terms to award the company up to $7.86 billion in direct funding for its commercial semiconductor manufacturing projects under the U.S.
CHIPS and Science Act. Related Story ASRock States Intel Platform Power Management Driver For Z890 Motherboards Improve Core Ultra 200S CPU Performance, Especially in GamesThe award will support Intel’s previously announced plans to advance critical semiconductor manufacturing and advanced packaging projects at its sites in Arizona, New Mexico, Ohio, and Oregon.
Intel also plans to claim the U.S. Treasury Department’s Investment Tax Credit, which is expected to be up to 25% of qualified investments of more than $100 billion.