Funding

Intel and the United States Department of Commerce announced on Wednesday that they had inked a preliminary agreement under which Intel will receive $8.5 billion in direct funding under the CHIPS and Science Act. Furthermore, Intel is being made eligible for $11 billion in low-interest loans under the same law, and is being given access to a 25% investment tax credit on up to $100 billion of capital expenditures over the next five years. The funds from the long-awaited announcement will be used to expand or build new Intel's semiconductor manufacturing plants in Arizona, New Mexico, Ohio, and Oregon, potentially creating up to 30,000 jobs. "Today is a defining moment for the U.S. and Intel as we work to power the next great chapter of...