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The US government drops its CHIPS Act requirements for Intel

Intel no longer has to fulfill certain requirements or meet milestones that it was originally supposed to under the CHIPS Act.

Intel no longer has to fulfill certain requirements or meet milestones that it was originally supposed to under the CHIPS Act, now that the government is taking a stake in the company. According to the Wall Street Journal, Intel said in a filing that it can now receive funding from the government, as long as it can show that it has already spent $7.9 billion on projects that it agreed to take on under a deal with the Commerce Department last year. President Donald Trump previously called for Intel CEO Lip-Bu Tan to resign, prompting a meeting between them that led to the new agreement.

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