Intel Corp secures $7.9 billion chips award for US factory expansion

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Intel Corp secures $7.9 billion chips award for US factory expansion - Business Standard

Quick Summary:

Specifically, Intel will get money for projects in Arizona, Oregon and New Mexico, according to a person familiar with the matter, who asked not to be named as the details are not public.

That means that the chipmaker’s final award will only support the first Ohio plant, according to the administration official and another person familiar with the matter.

Wrapping up talks has been a top priority for Intel, which has spent months trying to convince Wall Street and Washington that it can execute on a massive manufacturing expansion despite deep financial struggles and years of technological blunders.