The package will support more than $100 billion in U.S. investments from Intel, including efforts to produce cutting-edge semiconductors at large-scale plants...
The package will support more than $100 billion in U.S. investments from Intel, including efforts to produce cutting-edge semiconductors in Arizona and Ohio.The U.S. will award Intel Corp. $8.5 billion in grants and as much as $11 billion in loans to help fund an expansion of its semiconductor factories, marking the largest award from a program designed to reinvigorate the domestic chip industry.
For Intel, the facilities are part of an ambitious turnaround bid under CEO Pat Gelsinger. The effort has included building up a foundry business – an operation that makes chips for other companies — and Intel recently secured Microsoft Corp. as a high-profile customer. Gelsinger said that it’s been economically uncompetitive to build plants in the US compared with East Asia. These awards help redress that imbalance, he said. The U.S.’s loss of chip manufacturing took place over decades, and it may take more than the current program of support to fully reverse that trend.
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