Intel Corporation disclosed during its earnings call that it has received $2.2 billion in federal grants from the U.S. Department of Commerce through the U.S. CHIPS and Science Act. The funding will support semiconductor manufacturing across several states. Although the total awards of $7.86 billion were lower than the initial estimate, Intel’s co-interim CEO expressed confidence in receiving further support from the Trump Administration amidst potential uncertainties surrounding the act’s future funding.
The U.S. CHIPs and Science Act seeks to enhance domestic semiconductor manufacturing, with substantial federal funding being allocated to support companies like Intel.
Intel received $2.2 billion through the U.S. CHIPS Act, with additional grants contingent on performance milestones, enhancing its capacity in semiconductor production.
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