CHANDLER, Ariz. — President Biden announced a deal with Intel that will give the chipmaker up to $8.5 billion in grants and another $11 billion in loans to build semiconductor plants in four states — the biggest project to date in his push to bring chips manufacturing back to America.
The funding comes from the CHIPS and Science Act passed by Congress in 2022 to pour more than $52 billion into projects to dramatically boost U.S. production of the tiny electronic devices found in everything from cars to cell phones to military weapons.
