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HomeBusinessIntel receives $8.5 billion in CHIPS Act funding, limited to 13-word loans.

Intel receives $8.5 billion in CHIPS Act funding, limited to 13-word loans.

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The United States government, along with tech giant Intel, has announced plans to invest in leading-edge semiconductor technology with the goal of keeping America at the forefront of innovation. Intel’s commitment to spending its share of the CHIPS Act funds on fabs and research centers across several states underscores its dedication to catching up in leading-edge manufacturing by 2026. This significant investment not only aims to boost domestic chip technology but also create thousands of jobs in fab construction and chip manufacturing.

Intel’s decision to build a $20 billion fab in Ohio, along with expanding operations in Arizona and New Mexico, demonstrates the company’s strategy to focus on AI chip production in the US. By establishing these manufacturing sites, Intel is laying the foundation for a premier location for AI chip production on American soil. Other companies like GlobalFoundries, Microchip, and BAE Systems have also received CHIPS Act funds, signaling a concerted effort within the semiconductor industry to bolster domestic chip production and innovation. Ultimately, these investments aim to secure the US semiconductor industry’s position and prevent potential supply chain disruptions in the future.

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