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Intel's CHIPS Act Funding Cut By Over $600 Million
The Biden administration is reducing Intel's CHIPS Act award by over $600 million, citing a $3 billion military contract the chipmaker was also awarded. Engadget reports: Initially set to receive $8.5 billion from the domestic silicon production bill, the company will get up to $7.85 billion instea...
On Tuesday, The New York Times reported that Intel has extended some plant openings beyond 2030 government deadlines. Intel posted its biggest-ever quarterly loss last month after announcing 15,000 layoffs in August. The chip-maker's struggles have reportedly led some government officials to worry about its ability to deliver as a central component of the Biden White House's CHIPS Act.
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