The struggling chipmaker has cut jobs and pared back expansion plans as it grapples with its worst downturn ever, making the CHIPS Act money a welcome boost.

CNBC

United States

Intel and Commerce Department close to finalizing roughly $8 billion CHIPS Act grant, source says

Ad Fontes Media

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Roberts family

When a U.S. president faces the end of his term, there is often a mad dash to take care of any unfinished business. Sometimes he undertakes tasks at the last minute to avoid political blowback—for example, issuing controversial pardons—but it's typically just a matter of, lots to do and a waning amount of time in which to do it. With just weeks left in his term, President Joe Biden's administration is hurrying to shovel as much cash out the door…

Reason

Reason Foundation

Biden rushes to dole out CHIPS act funds before leaving office

The essential tech news of the moment. Technology's news site of record. Not for dummies.

Techmeme

California

Q&A with US Commerce Secretary Gina Raimondo on what happens to the $50B CHIPS program under the Trump administration, the future of AI safety, China, and more

When a U.S. president faces the end of his term, there is often a mad dash to take care of any unfinished business. Sometimes he undertakes tasks at the last minute to avoid political blowback—for example, issuing controversial pardons—but it's typically just a matter of, lots to do and a waning…

Upstract

Biden Rushes To Dole Out CHIPS Act Funds Before Leaving Office

The NewsThe Biden administration is charging full steam ahead on efforts to revitalize the domestic semiconductor ecosystem. The Commerce Department said on Monday it plans to award BAE Systems $36 million in grants to upgrade its New Hampshire semiconductor facility, allowing the company to quadruple production of chips used in military aircraft and commercial satellites. Meanwhile, Commerce will also give Rocket Lab $24 million for its New Mex…

Semafor

Justin B. Smith, Ben Smith

New York

Biden administration rushes to distribute final chips program funding

Even as it closes in on billions in government deals, Intel is reducing its property holdings, announcing it intends to sell a 150-acre California campus and consolidate other locations to cut expenses amid sluggish sales.

Bisnow

Intel To Reduce Property Holdings Just As It Finalizes $8B CHIPS Act Grant To Build Factories

Not $8.5 billion, but less than $8 billion will come from the U.S. CHIPS Act. Still, that's not a reduction in the budget.

Techzine Europe

Intel's U.S. CHIPS Act subsidy slims down to $8 billion

As Donald Trump's inauguration fast approaches, Gina Raimondo, the US Secretary of Commerce, revealed to Politico that she instructed Commerce Department staff to work overtime and personally contacted tech executives to expedite negotiations related to the CHIPS and Science Act.

technewstube.com

Raimondo's race against time: Intel, Samsung CHIPS Act deals hang in balance

These funds would come under the Chips and Science Act, the rule approved by the government of Joe Biden to try to boost the domestic production of semiconductors and reduce dependence on Asia. The same sources say that the president intends to accelerate the outstanding agreements before he takes office Donald Trump. The amount will be intended to support the construction of Intel factories, and the Department of Commerce is expected to confirm…

Estos fondos llegarían bajo la Ley de Chips y Ciencia, la norma aprobada por el Gobierno de Joe Biden para intentar impulsar la fabricación nacional de semiconductores y reducir la dependencia de Asia. Las mismas fuentes aseguran que el mandatario tiene la intención de acelerar los acuerdos pendientes antes de que asuma el cargo Donald Trump. El importe irá destinado a apoyar la construcción de fábricas de Intel, y se espera que el Departamento …

Intel sube: el Gobierno de EEUU prepara una subvención de 8.000 millones

bolsamania.com

Intel Goes Up: US Government Prepares 8 Billion Grant · Global Voices

Intel (INTC), the U.S.-based chipmaker, is on the verge of securing approximately an $8 billion grant from the CHIPS Act Office, according to sources cited by CNBC. This funding is part of the Biden administration's push to distribute allocated funds before President-elect Trump's inauguration, aimed at bolstering domestic semiconductor manufacturing.…

Intel and Commerce Department close to finalizing roughly $8 billion CHIPS Act grant, source says

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