The funding awarded to Intel will be directed towards US semiconductor manufacturing and advanced packaging projects, with significant investment in facilities located across several states.
Intel remains the largest beneficiary of CHIPS Act funding to date, receiving up to $7.86 billion, despite a reduction from the previously stated $8.5 billion.
U.S. Secretary of Commerce Gina Raimondo emphasized a sense of urgency regarding CHIPS Act funding, indicating a push to obligate funds before the administration changes.
The CHIPS Act is anticipated to generate over 125,000 jobs across 20 states, marking a significant increase in US semiconductor manufacturing capabilities.
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