[Intel Secures $7.9 Billion US Chip Subsidy for Advanced Chip Plants]
SMM, November 26 - Intel (INTC.O) announced on the 26th that the US Department of Commerce and Intel have reached an agreement on relevant terms. The US Department of Commerce will provide up to $7.86 billion in direct funding for Intel's commercial semiconductor manufacturing projects under the "CHIPS Act." This funding will support Intel's previously announced plans to advance critical semiconductor manufacturing and advanced packaging projects in Arizona, New Mexico, Ohio, and Oregon. Intel also plans to apply for investment tax credits from the US Department of the Treasury, which is expected to cover up to 25% of more than $100 billion in eligible investments.
