The U.S. Department of Commerce officially announced a large investment in the U.S. semiconductor industry on Nov. 26, awarding Intel Corporation $7.86 billion in direct funding under the CHIPS Incentives Program.
This funding is aimed at enhancing America’s leading-edge chip capacity and is expected to bolster Intel’s nearly $90 billion investment in the United States by the end of the decade, part of the company’s larger $100 billion-plus expansion plan, according to the department.
“The CHIPS for America program will supercharge American innovation and technology and make our country more secure—and Intel is playing an important role in the revitalization of the U.S. semiconductor industry through its unprecedented investments across Arizona, New Mexico, Ohio, and Oregon,” U.S. Secretary of Commerce Gina Raimondo said in the announcement….