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Why is the government allowing Intel to lay off 10,000 employees when they received $8.5 billion through the Chips Act?
Proposed funding, coupled with an investment tax credit and eligibility for CHIPS Act loans, would help Intel advance American semiconductor manufacturing and technology leadership in the AI era.
Proposed funding supports Intel’s previously announced plans to invest more than $100 billion in the U.S. over five years to expand U.S. chipmaking capacity and capabilities critical to economic and national security and acceleration of emerging technologies, such as AI. 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.” The historic investment will create thousands of new company positions and construction jobs, foster U.S.-based R&D, strengthen U.S. supply chains, and help ensure American leadership in leading-edge semiconductor manufacturing and technology capabilities.
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