Intel is reportedly facing a delay in the release of its CHIPS Act funds promised by the White House back in March 2024. Bloomberg reports that the American chipmaker must meet the expectations it agreed upon during the initial negotiations before the federal government will open its purse drawstrings. Furthermore, it must pass stringent due diligence checks to ensure that the billions of dollars of taxpayer money Washington invested won’t go to waste.
Intel is one of the biggest recipients of Biden’s push to recharge the American semiconductor industry, with $8.5 billion earmarked for Team Blue, plus another $11 billion in low-interest loans. It also received a 25% tax credit for up to $100 billion. This massive amount doesn’t come without strings attached, though.
