Poor Intel. Last year was pretty rough for the 55-year-old semiconductor firm, as it accrued just $54.2 billion in revenue, 14% less than the year before. After paying all its bills for manufacturing, research and development, and biscuits, there was just $1.7 billion left over in net income. Poor Intel.
So when the US administration announced the CHIPS and Science Act in 2022, with a total of $280 billion up for grabs, Intel jumped right in to get some of that golden booty. Only now it's asking for a further $10 billion, at the very least, to ensure Intel's US developments can continue.
