TECH: Intel Receives $8.5B Funding Boost for Semiconductors

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    Polyvios Evangelou

      Overview: The Biden administration has proposed significant funding for Intel under the CHIPS and Science Act, aiming to revitalize semiconductor manufacturing in the US. This includes up to $8.5bn in direct funding and $11bn in loans for Intel’s commercial semiconductor projects. President Biden personally announced the proposal during a visit to Intel’s Ocotillo campus in Arizona. This investment is expected to create nearly 30,000 jobs and support thousands more indirectly, while reinforcing America’s position in semiconductor innovation and supply chain resilience.

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