Intel’s CHIPS Act funding reduced from $8.5 billion to $7.85 billion because of recent military contract
3 weeks, 3 days ago

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

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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, and AMD. Image Credit: Reuters The Biden administration has reduced Intel’s funding under the CHIPS Act from $8.5 billion to $7.85 billion, a significant cut attributed to the company’s recent $3 billion military contract. Intel, the largest recipient of CHIPS Act funding, faces mounting scrutiny over its ability to deliver on its commitments, particularly as it navigates financial struggles and extended project timelines. Strategic tensions highlight semiconductor importance 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, and AMD.

History of this topic

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