April 13, 2024

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Breaking News: Biden Administration in Talks to Award $10 Billion in Subsidies to Intel Corp | Latest Update

2 min read
Breaking_News

The Biden administration is currently in discussions regarding the potential allocation of over $10 billion in subsidies to Intel Corp, according to a report by Bloomberg News. The negotiations involve a mix of loans and direct grants to support the expansion of semiconductor manufacturing in the United States.

Support for Semiconductor Industry

The U.S. Department of Commerce, responsible for disbursing funds under the CHIPS Act, has not provided official comments on this matter. However, it has previously announced smaller grants under the semiconductor fund, with the intention of bolstering domestic semiconductor production and relevant supply chain investments.

Intended Allocation

Intel’s substantial investment plans include the establishment of new chip factories in Arizona and New Mexico, alongside a new site in Ohio, which the company envisions as potentially the largest chip plant globally. However, there have been reports of a potential delay in the Ohio site’s completion until 2026, attributed to market dynamics and the pace of federal funding disbursement.

Impact on Semiconductor Market

It remains uncertain how an influx of federal funds this year may influence the progression of these plans, not only for Intel but also for other key players such as Taiwan Semiconductor Manufacturing Co, Micron, and Samsung Electronics, all of which are actively engaged in new chip factory construction in the United States.

Key Points:

– The Biden administration is considering providing over $10 billion in subsidies to Intel Corp for semiconductor manufacturing.
– This proposed subsidy package may encompass loans and direct grants.
– Intel plans significant investments in chip factories in Arizona, New Mexico, and Ohio, with potential implications for the global semiconductor market.
– Other major players in the semiconductor industry, such as Taiwan Semiconductor Manufacturing Co, Micron, and Samsung Electronics, are also involved in new chip factory projects in the U.S.

In conclusion, the potential allocation of subsidies to Intel Corp reflects the U.S. government’s commitment to enhancing domestic semiconductor manufacturing capabilities. The outcome of these negotiations and the subsequent utilization of the funds will likely have a significant impact on the semiconductor industry, both domestically and globally.

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