Commerce Department to reduce Intel’s funding on semiconductors
1 month, 2 weeks ago

Commerce Department to reduce Intel’s funding on semiconductors

Associated Press  

LOS ANGELES — The Biden administration plans on reducing part of Intel’s $8.5 billion in federal funding for computer chip plants around the country, according to three people familiar with the grant who spoke on the condition of anonymity to discuss private conversations. President Joe Biden announced the agreement to provide Intel with up to $8.5 billion in direct funding and $11 billion in loans in March. The California-based tech giant’s funding is tied to a sweeping 2022 law that President Biden has celebrated and which is designed to revive U.S. semiconductor manufacturing. The Commerce Department said the funding for Taiwan Semiconductor Manufacturing Co. meant the company could expand on its existing plans for two facilities in Phoenix and add a third, newly announced production hub.

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History of this topic

Biden rushes to Trump-proof his signature energy, chip policies
1 month, 1 week ago

Biden rushes to Trump-proof his signature energy, chip policies

Live Mint  

The White House is racing to lock down President Biden’s dearest policy goals, distributing billions of dollars to safeguard favored projects before President-elect Donald Trump takes office in January. One of the Biden administration’s most aggressive moves could come from a $400 billion clean-energy lending program inside the Energy Department. Biden administration officials fear a Trump administration could stop making …

Intel’s CHIPS Act funding reduced from $8.5 billion to $7.85 billion because of recent military contract
1 month, 1 week ago

Intel’s CHIPS Act funding reduced from $8.5 billion to $7.85 billion because of recent military contract

Firstpost  

Intel, the largest recipient of CHIPS Act funding, is facing mounting scrutiny over its ability to deliver on its commitments, particularly as it navigates financial struggles and extended project timelines Intel remains the only US-based logic chip manufacturer, a factor that has led US Secretary of Commerce Gina Raimondo to encourage collaboration between Intel and tech giants like Apple, NVIDIA, …

Intel's $7.86 billion subsidy deal restricts sale of its manufacturing unit
1 month, 2 weeks ago

Intel's $7.86 billion subsidy deal restricts sale of its manufacturing unit

The Hindu  

Intel said on Wednesday its deal for $7.86 billion in U.S. government subsidies restricts the company's ability to sell stakes in its chipmaking unit if it becomes an independent entity. The U.S. Commerce Department announced the subsidy to Intel on Tuesday, part of $39 billion for the sector including Taiwan Semiconductor Manufacturing Co and others in an effort to revitalize …

Intel gets $7.86 billion chips manufacturing subsidy from the US government
1 month, 2 weeks ago

Intel gets $7.86 billion chips manufacturing subsidy from the US government

Hindustan Times  

The U.S. Commerce Department said Tuesday it was finalizing a $7.86 billion government subsidy for Intel, down from $8.5 billion announced in March after the California-based chips maker won a separate $3 billion award from the Pentagon. Intel has already met some initial project milestones and will receive at least $1 billion of the award before the end of December, …

Biden team races to deliver chip grants before Trump takes over
1 month, 3 weeks ago

Biden team races to deliver chip grants before Trump takes over

Live Mint  

U.S. officials are racing to deliver billions of dollars of promised manufacturing grants to Intel and others to complete a significant portion of a favored program of President Biden before he leaves office. The Commerce Department has provisionally awarded most of the $39 billion of grant money allocated under 2022’s Chips Act to re-energize U.S. chip production. Donald Trump threw …

From AI to hardware costs: Enterprise tech leaders prepare for Trump 2.0
1 month, 4 weeks ago

From AI to hardware costs: Enterprise tech leaders prepare for Trump 2.0

Live Mint  

With President-elect Donald Trump preparing to take office, business technology leaders say they are bracing for immediate and long-term impacts from policies he will likely institute. “The way AI affects a CIO’s job is primarily around strategic planning," said Suvajit Basu, the former CIO of Goya Foods. “The real change will be to put AI regulation back in the hands …

Intel shares jump on chip deal with Amazon
3 months, 3 weeks ago

Intel shares jump on chip deal with Amazon

CNN  

New York CNN — Intel’s struggling chip-making business got a boost Monday from a high-profile client: Amazon. Intel Foundry and Amazon Web Services will coinvest in a custom chip design for the latter and “announced a multi-year, multi-billion-dollar framework,” according to a release. “Specifically, Intel Foundry will produce an AI fabric chip for AWS on Intel 18A,” Intel CEO Pat …

Chipmaker Intel to cut 15,000 jobs as it tries to revive its business and compete with rivals
5 months, 1 week ago

Chipmaker Intel to cut 15,000 jobs as it tries to revive its business and compete with rivals

LA Times  

Intel, based in Santa Clara, Calif., is also suspending its stock dividend as part of a broader plan to cut costs. “Simply put, we must align our cost structure with our new operating model and fundamentally change the way we operate,” he wrote in the memo published on Intel’s website. “Intel’s announcement of a significant cost-cutting plan including layoffs may …

Intel plans to cut thousands of jobs to finance recovery: Report
5 months, 1 week ago

Intel plans to cut thousands of jobs to finance recovery: Report

The Hindu  

Intel plans to cut thousands of jobs to finance a recovery and cope with eroding market share, Bloomberg News reported on Tuesday, citing people familiar with the matter. CEO Pat Gelsinger has initiated a turnaround to regain the company's competitive edge, focusing on revitalizing its manufacturing capabilities, investing in advanced chip technologies, and expanding into new markets. In October 2022, …

Biden is giving $6 billion to Micron for a semiconductor project in upstate New York
8 months, 2 weeks ago

Biden is giving $6 billion to Micron for a semiconductor project in upstate New York

NPR  

Biden is giving $6 billion to Micron for a semiconductor project in upstate New York Enlarge this image toggle caption Andrew Caballero-Reynolds/AFP via Getty Images Andrew Caballero-Reynolds/AFP via Getty Images President Biden traveled to Syracuse, N.Y., on Thursday to tout $6.1 billion in federal grants for Micron Technology that supporters say could bring an economic revival to the region and …

Micron set to get $6 billion in chip grants from US: Report
8 months, 3 weeks ago

Micron set to get $6 billion in chip grants from US: Report

Hindustan Times  

Memory chip maker Micron Technology is set to get more than $6 billion in grants from the U.S. Commerce Department to help pay for domestic chip factory projects, Bloomberg News reported on Wednesday. New federal funding from U.S. President Joe Biden's CHIPS and Science Act will help lock in 50,000 jobs, a $100 billion investment, and millions of dollars in …

US will provide $6.1 billion to Micron Technology for chip plants in NY and Idaho, Schumer says
8 months, 3 weeks ago

US will provide $6.1 billion to Micron Technology for chip plants in NY and Idaho, Schumer says

Associated Press  

WASHINGTON — The Biden administration has reached an agreement to provide $6.1 billion in government support for Micron Technology to produce advanced memory computer chips in New York and Idaho. Senate Majority Leader Chuck Schumer, D-N.Y., personally courted Micron to build what would ultimately be a set of four chip factories near Syracuse in the town of Clay. “For the …

Biden administration announces $6.6 billion to ensure leading-edge microchips are built in the US
9 months ago

Biden administration announces $6.6 billion to ensure leading-edge microchips are built in the US

Associated Press  

— The Biden administration pledged on Monday to provide up to $6.6 billion so that a Taiwanese semiconductor giant can expand the facilities it is already building in Arizona and better ensure that the most-advanced microchips are produced domestically for the first time. “These are the chips that underpin all artificial intelligence, and they are the chips that are the …

Intel Loses $7 Billion In Its Chip Business Battle With TSMC Last Year
9 months, 1 week ago

Intel Loses $7 Billion In Its Chip Business Battle With TSMC Last Year

News 18  

– Intel on Tuesday disclosed deepening operating losses for its foundry business, a blow to the chipmaker as it tries to regain a technology lead it lost in recent years to Taiwan Semiconductor Manufacturing. Intel said the manufacturing unit had $7 billion in operating losses for 2023, a steeper loss than the $5.2 billion in operating losses the year before. …

Biden needs a win from Intel. Can the company deliver?
9 months, 1 week ago

Biden needs a win from Intel. Can the company deliver?

Politico  

We're tracking Biden’s $1.6 trillion climate and infrastructure spending plans. Intel’s latest manufacturing process technology — which Gelsinger said he’s “bet the whole company on” — is debuting later this year and will be used for the first time to mass-produce chips in Arizona. “Intel’s got a really long way to go.” ‘America’s championship company’ To critics, the CHIPS Act …

Intel to make world's largest AI chip factory in the US, spend over $100 billion across four states
9 months, 2 weeks ago

Intel to make world's largest AI chip factory in the US, spend over $100 billion across four states

Firstpost  

Intel CEO Pat Gelsinger wants to build the largest AI chip manufacturing site in the world near Columbus, Ohio. The AI chip factory will be the centrepiece of Intel’s ambitious five-year spending plan to expand in the US Intel wants to build the world's largest AI chip making factory in Ohio, and plans to have it operational by 2027. Image …

Biden touts Arizona as America’s ‘future’ as government invests $8.5 billion in chipmaker Intel
9 months, 3 weeks ago

Biden touts Arizona as America’s ‘future’ as government invests $8.5 billion in chipmaker Intel

Associated Press  

CHANDLER, Ariz. — President Joe Biden on Wednesday celebrated an agreement to provide Intel with up to $8.5 billion in direct funding and $11 billion in loans for computer chip plants around the country, talking up the investment in the political battleground state of Arizona and calling it a way of “bringing the future back to America.” The Biden administration …

Biden is giving Intel $8.5 billion for big semiconductor projects in 4 states
9 months, 3 weeks ago

Biden is giving Intel $8.5 billion for big semiconductor projects in 4 states

NPR  

Biden is giving Intel $8.5 billion for big semiconductor projects in 4 states Enlarge this image toggle caption Brendan Smialowski/AFP via Getty Images Brendan Smialowski/AFP via Getty Images CHANDLER, Ariz. — President Biden announced a deal with Intel that will give the chipmaker up to $8.5 billion in grants and another $11 billion in loans to build semiconductor plants in …

Biden admin providing $1.5 billion to GlobalFoundries to make computer chips in New York and Vermont
10 months, 3 weeks ago

Biden admin providing $1.5 billion to GlobalFoundries to make computer chips in New York and Vermont

Associated Press  

WASHINGTON — The Biden administration said Monday that the government intends to provide $1.5 billion to the computer chip company GlobalFoundries to expand its domestic production in New York and Vermont. “The chips that GlobalFoundries will make in these new facilities are essential,” Commerce Secretary Gina Raimondo said on a call with reporters. They assure smartphones have the latest features, …

Billions Start Flowing to Chip Makers For New U.S. Factories
10 months, 3 weeks ago

Billions Start Flowing to Chip Makers For New U.S. Factories

Live Mint  

The U.S. government is giving chip maker GlobalFoundries $1.5 billion in grants to build and expand facilities in New York and Vermont, the first major award in a program that aims to reinvigorate domestic chip production. Chip makers Intel, Taiwan Semiconductor Manufacturing, Samsung Electronics and Micron Technology have all submitted applications for the government to cover a portion of the …

Biden administration announces $5 billion commitment for research and development of computer chips
11 months ago

Biden administration announces $5 billion commitment for research and development of computer chips

Associated Press  

WASHINGTON — The Biden administration on Friday announced the investment of $5 billion in a newly established public-private consortium aimed at supporting research and development in advanced computer chips. Stakeholders in the chips industry gathered on the White House campus to discuss how the center should prioritize research and worker training for an industry poised to expand because of government …

Biden administration announces $162 million to expand computer chip factories in Colorado and Oregon
1 year ago

Biden administration announces $162 million to expand computer chip factories in Colorado and Oregon

Associated Press  

WASHINGTON — The Biden administration is providing $162 million to Microchip Technology to support the domestic production of computer chips — the second funding announcement tied to a 2022 law designed to revive U.S. semiconductor manufacturing. The incentives announced Thursday include $90 million to improve a plant in Colorado Springs, Colorado, and $72 million to expand a factory in Gresham, …

Biden administration announces $162 million to expand computer chip factories in Colorado and Oregon
1 year ago

Biden administration announces $162 million to expand computer chip factories in Colorado and Oregon

The Independent  

The latest headlines from our reporters across the US sent straight to your inbox each weekday Your briefing on the latest headlines from across the US Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ /verifyErrors …

Biden administration says New Hampshire computer chip plant the first to get funding from CHIPS law
1 year ago

Biden administration says New Hampshire computer chip plant the first to get funding from CHIPS law

Associated Press  

WASHINGTON — The Biden administration announced the first of many coming federal investments in computer chip production, saying Monday that it would provide $35 million for BAE Systems to increase production at a New Hampshire factory making chips for military aircraft, including F-15 and F-35 jets. The Commerce Department’s choice of a military contractor instead of a conventional chip manufacturer …

Biden administration says New Hampshire computer chip plant the first to get funding from CHIPS law
1 year ago

Biden administration says New Hampshire computer chip plant the first to get funding from CHIPS law

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The Biden administration said Monday …

Intel to build $33-billion chip plant in Germany after government pledges to cover a third of the cost
1 year, 6 months ago

Intel to build $33-billion chip plant in Germany after government pledges to cover a third of the cost

LA Times  

German Chancellor Olaf Scholz, right, and Intel CEO Pat Gelsinger in Berlin at a signing ceremony for a new chip plant. Intel and the German government signed a deal Monday that will see the U.S. company spend more than $32.8 billion to build a chip manufacturing plant in the eastern city of Magdeburg, after Germany pledged to cover a third …

Biden to require chips companies winning subsidies to share excess profits
1 year, 10 months ago

Biden to require chips companies winning subsidies to share excess profits

Live Mint  

The Biden administration on Tuesday said it will require companies winning funds from its $52-billion U.S. semiconductor manufacturing and research program to share excess profits and explain how they plan to provide affordable childcare. Companies winning funding are also prohibited from using chips funds for dividends or stock buybacks, and must provide details of any plans to buy back their …

US govt to chip makers: Share profits if you want subsidies
1 year, 10 months ago

US govt to chip makers: Share profits if you want subsidies

Al Jazeera  

Newly released plan requires firms that want subsidies to share future profits with government and provide childcare for employees. United States President Joe Biden’s administration has said it will require companies winning funds from its $52bn semiconductor manufacturing and research programme to share excess profits and explain how they plan to provide employees with affordable childcare. Commerce also expects “upside …

Computer chip funding to require security, worker benefits
1 year, 10 months ago

Computer chip funding to require security, worker benefits

Associated Press  

WASHINGTON — The Commerce Department is opening the application process for computer chip manufacturers to access $39 billion in government support to build new factories and expand production. “This is fundamentally a national security initiative,” Commerce Secretary Gina Raimondo said as the application process began Tuesday. “We are not writing blank checks to any company that asks.” The money is …

Raimondo seeks to rally US behind $52 billion chip program
1 year, 10 months ago

Raimondo seeks to rally US behind $52 billion chip program

Associated Press  

WASHINGTON — Commerce Secretary Gina Raimondo on Thursday called on the country to unite around a $52 billion effort to restore the U.S. as the world leader in advanced computer chips, saying it will require training of tens of thousands of workers. “The research, innovation and manufacturing sparked by this law will enable us to be the technological superpower, securing …

Lawmakers press U.S. Commerce for tougher checks on semiconductor chip subsidies
2 years, 3 months ago

Lawmakers press U.S. Commerce for tougher checks on semiconductor chip subsidies

The Hindu  

A group of Democratic lawmakers wants the U.S. Commerce Department to take additional steps to ensure semiconductor companies do not use government subsidies to conduct stock buybacks. "Without strict controls, we are concerned that CHIPS funding may result in a subsidy for additional buybacks, enriching executives and stockholders at taxpayers’ expense while undermining the goals of the legislation," said the …

Biden administration announces plan for $50 billion investment in chips to avoid dependency on China
2 years, 4 months ago

Biden administration announces plan for $50 billion investment in chips to avoid dependency on China

Firstpost  

President Joe Biden last month signed a $280 billion CHIPS bill to boost domestic high-tech manufacturing, part of his administration’s push to boost US competitiveness over China Washington: The Biden administration has announced it will invest $50 billion in building up the domestic semiconductor industry to counter dependency on China, as the United States produces zero and consumes 25 per …

Micron to invest $15 billion on memory chip plant in Boise
2 years, 4 months ago

Micron to invest $15 billion on memory chip plant in Boise

Associated Press  

Micron will invest $15 billion though the end of the decade on a new semiconductor plant in its hometown that the chipmaker said will create 17,000 American jobs. Sanjay Mehrotra, president and CEO of Boise, Idaho-based Micron, said his company’s investment was made possible by last month’s passage of the CHIPS and Science ACT of 2022, a $280 billion bill …

Biden to attend groundbreaking of Intel’s $20B Ohio plants
2 years, 4 months ago

Biden to attend groundbreaking of Intel’s $20B Ohio plants

Associated Press  

COLUMBUS, Ohio — Intel Corp. will break ground Sept. 9 on its planned $20 billion Ohio semiconductor facilities with President Joe Biden in attendance, the company and the the White House said Thursday. Total investment could top $100 billion over the decade with six additional fabs, Intel CEO Patrick Gelsinger has said. Biden will speak on “rebuilding American manufacturing” through …

Biden signs CHIPS Act to boost US chipmakers, compete with China
2 years, 5 months ago

Biden signs CHIPS Act to boost US chipmakers, compete with China

Al Jazeera  

The law, providing $52bn in subsidies to US semiconductor manufacturers, aims to reduce US dependence on Taiwan and South Korea for critical technologies. US President Joe Biden on Tuesday signed into law a bill providing $52.7bn in subsidies for US semiconductor manufacturers and research, in a landmark effort to boost United States competition with China’s scientific and technology initiatives. The …

Biden, suddenly on a hot streak, signs semiconductor bill as businesses boost investment
2 years, 5 months ago

Biden, suddenly on a hot streak, signs semiconductor bill as businesses boost investment

LA Times  

President Biden signed a bill that seeks to boost manufacturing of semiconductors and reduce the U.S. tech sector’s reliance on Asian companies. Biden, speaking before he signed the legislation into law on the South Lawn of the White House, called the bill “a once-in-a-generation investment in America itself” that comes during a moment of global upheaval and amid a still …

Biden stresses case for computer chips before crucial Senate vote
2 years, 5 months ago

Biden stresses case for computer chips before crucial Senate vote

The Hindu  

Calling semiconductors “the building blocks for the modern economy,” President Joe Biden on Monday asked Congress to move quickly and send him a bipartisan bill designed to boost the computer chips industry and high-tech research in the United States. The bill needs support from at least 60 senators to clear procedural hurdles and place it on a path to final …

Legislation to subsidize U.S.-made semiconductor chips heads to Biden's desk
2 years, 5 months ago

Legislation to subsidize U.S.-made semiconductor chips heads to Biden's desk

NPR  

Legislation to subsidize U.S.-made semiconductor chips heads to Biden's desk Enlarge this image toggle caption Anna Moneymaker/Getty Images Anna Moneymaker/Getty Images In a major win for the Biden administration, the House has passed bipartisan legislation aimed at supporting domestic manufacturing of semiconductor chips that power the nation's smartphones, cars, computers, medical equipment and weapons systems. Sponsor Message Seventeen Senate Republicans …

Biden presses computer chips case in advance of Senate vote
2 years, 5 months ago

Biden presses computer chips case in advance of Senate vote

Associated Press  

WASHINGTON — Calling semiconductors “the building blocks for the modern economy,” President Joe Biden on Monday asked Congress to move quickly and send him a bipartisan bill designed to boost the computer chips industry and high-tech research in the United States. The bill needs support from at least 60 senators to clear procedural hurdles and place it on a path …

Republicans warm to $52B computer chip bill, adding momentum
2 years, 5 months ago

Republicans warm to $52B computer chip bill, adding momentum

Associated Press  

WASHINGTON — Key Republicans are warming up to passing a bill that provides roughly $52 billion in incentives for the semiconductor industry now that Sen. Joe Manchin of West Virginia has quashed the idea of imposing higher taxes on the rich and corporations as part of a separate Democratic-only effort. That’s when Senate Republican leader Mitch McConnell said there would …

U.S. commerce secretary presses lawmakers to greenlight $52 billion for chipmaking
2 years, 6 months ago

U.S. commerce secretary presses lawmakers to greenlight $52 billion for chipmaking

The Hindu  

U.S. Commerce Department Secretary Gina Raimondo on Monday stepped up pressure on Congress to approve $52 billion in funding for chipmakers to expand operations, warning that firms would abandon American expansion plans without the legislation. if Labour Day comes and goes and this Chips Act isn't passed by Congress, these companies will not wait and they will expand in other …

U.S. Senate approves $52 billion chips bill in bid to reach compromise
2 years, 9 months ago

U.S. Senate approves $52 billion chips bill in bid to reach compromise

The Hindu  

The U.S. Senate on Monday again approved a bill to provide $52 billion in U.S. subsidies for semiconductor chips manufacturing in a bid to reach a compromise after months of discussions. The Senate first passed chips legislation in June that also authorised $190 billion to strengthen U.S. technology and research to compete with China, while the House passed its version …

Chipmaker Intel details $150 million education investment
2 years, 9 months ago

Chipmaker Intel details $150 million education investment

Associated Press  

COLUMBUS, Ohio — Chipmaker Intel on Thursday outlined $150 million in educational funding aimed at growing the workforce for the semiconductor industry, as part of its $20 billion investment in a production hub in Ohio. Intel’s $50 million investment in Ohio includes the creation of a semiconductor education and research program across state institutions, including the expansion and diversification of …

Ohio lured Intel’s chip plant with $2B incentive package
2 years, 11 months ago

Ohio lured Intel’s chip plant with $2B incentive package

Associated Press  

COLUMBUS, Ohio — Ohio offered Intel Corp. incentives worth roughly $2 billion to secure a new $20 billion chipmaking factory that the company says will help alleviate a global shortage and create a new technology hub in the Midwest. Santa Clara, California-based Intel, the world’s second biggest chipmaker, announced a week ago it had selected a site outside Columbus for …

U.S. House bill on China competitiveness, chip investment, coming soon: Pelosi
2 years, 11 months ago

U.S. House bill on China competitiveness, chip investment, coming soon: Pelosi

The Hindu  

The U.S. House of Representatives will soon introduce a bill to increase U.S. competitiveness with China and boost federal spending on semiconductors, Speaker Nancy Pelosi said on Friday as the Biden administration seeks to boost domestic chip production. President Joe Biden's administration is pushing to persuade Congress to approve funding to help boost chip production in the United States, as …

Intel to build $20B Ohio chip facility amid global shortage
2 years, 11 months ago

Intel to build $20B Ohio chip facility amid global shortage

Associated Press  

COLUMBUS, Ohio — Chipmaker Intel said Friday it will invest $20 billion to build a new factory in Ohio, an attempt to help alleviate a global shortage of chips powering everything from phones to cars to home appliances while also signaling the giant company’s commitment to manufacturing crucial technology products in the U.S. You can think about this as a …

Intel plans $20 bln chip manufacturing site in Ohio
2 years, 11 months ago

Intel plans $20 bln chip manufacturing site in Ohio

The Hindu  

Intel Corp will invest $20 billion in two new plants in Ohio to make advanced chips, the company said on Friday, the first step to a "mega-site" that can accommodate eight chip factories costing $100 billion. Chief Executive Pat Gelsinger is driving Intel plans to expand, especially in Europe and the United States, as it seeks to heat up competition …

Intel is building a $20 billion computer chip facility in Ohio amid a global shortage
2 years, 11 months ago

Intel is building a $20 billion computer chip facility in Ohio amid a global shortage

NPR  

Intel is building a $20 billion computer chip facility in Ohio amid a global shortage Enlarge this image toggle caption Richard Drew/AP Richard Drew/AP COLUMBUS, Ohio — Intel will invest $20 billion in a new computer chip facility in Ohio amid a global shortage of microprocessors used in everything from phones and cars to video games. "Intel's work is essential …

Intel will build Ohio computer chip factories amid global shortage
2 years, 11 months ago

Intel will build Ohio computer chip factories amid global shortage

LA Times  

Intel will spend $20 billion on a new semiconductor manufacturing facility in Ohio. Intel will invest $20 billion in a new computer chip facility in Ohio amid a global shortage of microprocessors used in a wide variety of products, including phones, cars and video games. “Intel’s work is essential to our efforts to rebuild America’s chip building capacity and create …

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