Intel Secures Historic $20 Billion Funding to Boost US Chip Production

Intel Secures Historic $20 Billion Funding to Boost US Chip Production Intel Lands Landmark $20 Billion in US Government Grants and Loans to Accelerate Domestic Chip Manufacturing In a significant development for the US technology sector, President Joe Biden announced a historic $20 billion funding package for semiconductor giant Intel. This substantial financial boost aims to supercharge Intel's domestic chip production capabilities and revitalize American leadership in the critical semiconductor industry. Key Points for Enhanced Chip Production: Part of the CHIPS and Science Act: This funding is a cornerstone initiative of the 2022 CHIPS and Science Act, a legislative effort to significantly increase the US share of advanced chip manufacturing. Currently, the US manufactures none of the world's most advanced chips, aiming to reach 20% by 2030 with this strategic investment [1]. Rejuvenating US Semiconductor Manufacturing: The $20 billion package will support the devel...