Intel to receive up to $8.5bn in U.S. CHIPS Act grant
WASHINGTON/TAIPEI -- Intel will receive up to $8.5 billion in grants and $11 billion in loans from the U.S. government to produce cutting-edge semiconductors in the biggest deployment of funds under the CHIPS and Science Act.
President Joe Biden will travel to Chandler, Arizona, the site of one of Intel’s new plants, on Wednesday to officially announce the decision. Commerce Secretary Gina Raimondo told reporters this will be the "single biggest grant" to any chip company under the act.