Intel's Federal Chips Grant Shrinks Below $8B As Biden Administration Recalibrates CHIPS Act Funding: Report

Quick Summary:

The adjustment reflects Intel's $3 billion contract with the Pentagon for chip production. 

See Also: Google’s Chrome Battle Goes Beyond The Browser: Gene Munster Outlines Wider Implications Of DOJ Going After The Search Giant

The CHIPS Act signed into law in 2022, allocated $52.7 billion to strengthen U.S.semiconductor production and research, with $39 billion earmarked for production subsidies and $11 billion for R&D.

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Article Details

Author / Journalist: Ananya Gairola

Category: Technology

Markets: United StatesChinaTaiwan

Topics: US8740391003 Artificial intelligence CHIPS Act News Media Consumer Tech INTC Politics Stories That Matter AI Chips Tech US4581401001 TSM Benzinga neuro Benzinga Pat Gelsinger Markets

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-25 @ 07:30:29 (11 hours ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 529 words

Reading Time: 3 minutes read

Sentences: 26 lines

Sentence Length: 21 words per sentence (average)

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

Copyright Owner: © Benzinga

News ID: 23817896

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