Intel Corporation (NASDAQ:INTC) and the Biden-Harris Administration announced that the U.S. Department of Commerce will award Intel up to $7.86 billion in funding under the CHIPS and Science Act.
The funding will support semiconductor manufacturing and advanced packaging projects at Intel’s facilities in Arizona, New Mexico, Ohio, and Oregon. Additionally, Intel plans to leverage the U.S. Treasury Department’s Investment Tax Credit, covering up to 25% of qualified investments exceeding $100 billion.
