Intel expects reduced US grant after winning defense contract

Quick Summary:

:Intel expects a reduction from the $8.5 billion preliminary U.S.subsidies planned for the chipmaker to adjust for a $3 billion deal with the Pentagon, two sources familiar with the matter said on Monday.

Intel's shares have slid 47 per cent so far this year, and its market value has plummeted below that of once-smaller rivals such as Qualcomm and Advanced Micro Devices.

Politico reported that some lawmakers objected to that move because Intel was seen as the most likely recipient for funding for the classified project.

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Article Details

Category: EconomyBusiness

Markets: Singapore

Topics: Funding Reduction March Billion Grants Pentagon Likely Subsidies Chipmaker Sources Intel

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-26 @ 00:04:25 (8 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 550 words

Reading Time: 4 minutes read

Sentences: 20 lines

Sentence Length: 28 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Channel News Asia

News ID: 23842971

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Main Topics: EconomyBusiness

Official Website: channelnewsasia.com

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Year Established: 1999

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News Last Updated: 31 minutes ago

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