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Intel to Receive $8.5B in CHIPS Act Funding & Further Loans To Build US Fabs
y Anton Shilov on March 20, 2024 4:45 PM EST - Posted in - Semiconductors - CPUs - Intel - Funding Intel and the U.S. Commerce Department on Wednesday announced that they had inked a preliminary agreement under which Intel can get $8.5 billion in direct funding under the CHIPS and Science Act, $11 billion in low-interest loans under the same law, and a 25% investment tax credit on up to $100 billion of capital expenditures over the next five years.
CHIPS Act support will help to ensure that Intel and the U.S. stay at the forefront of the AI era as we build a resilient and sustainable semiconductor supply chain to power our nation's future." Thirdly, Intel is expanding and upgrading its chip production, research, and development capabilities in its Silicon Forest campus near Hillsboro, Oregon. These facilities will be crucial to building next-generation multi-chipset processors for clients, data center, and AI applications in the coming years, in which they will be the largest in the USA.
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