Commerce agreed last November to provide Intel up to $7.86 billion to fund fabrication plants and advanced packaging projects in Arizona, New Mexico, Ohio, and Oregon. Commerce Secretary Howard Lutnick said Intel would be required to give the federal government an equity stake in return for CHIPS Act subsidy cash. Lutnick said the government should receive equity in exchange for funds already committed under the Biden administration. White House Press Secretary Karoline Leavitt initially appeared to confirm the plan but later said officials were working on it and ironing out the details. Other CHIPS Act beneficiaries include Micron, TSMC, Samsung, and GlobalFoundries. A White House official confirmed Lutnick is exploring equity stakes in those companies as well.
Commerce Secretary Howard Lutnick said that Intel would be required to give the federal government an equity stake in the company in return for its CHIPS Act subsidy cash, which was granted last year under the previous administration. Intel finalized its agreement with the Commerce Department last November, a deal that would see it receive up to $7.86 billion to help fund its semiconductor fabrication plants and advanced packaging projects at sites in Arizona, New Mexico, Ohio, and Oregon.
"We should get an equity stake for our money," Lutnick told CNBC. "So we'll deliver the money, which was already committed under the Biden administration. We'll get equity in return for it," he added. The move appeared to be confirmed by White House Press Secretary Karoline Leavitt, but she later walked back the claim to say that the government was "working on it" and "ironing out the details,"
Collection
[
|
...
]