Biden administration The company is in talks to give Intel more than $10 billion in subsidies, Bloomberg News reported, citing people familiar with the matter.
Negotiations are ongoing and Intel's incentive package is likely to include both loans and direct grants, according to the report.
The U.S. Department of Commerce, which oversees the disbursement of Chip Act funds, and Intel declined to comment.
The department has already announced two smaller Chip Act grants, and Commerce Secretary Gina Raimondo said earlier this month that the department would receive multiple funds within two months of the government's $39 billion program to boost semiconductor manufacturing. He said he plans to offer it.
The Semiconductor Fund aims to subsidize investments in chip production and related supply chains, and this award will help build factories and increase production.
Intel to finance chip factories at its long-standing locations in Arizona and New Mexico, as well as a new site in Ohio that the Silicon Valley company claims could be the world's largest chip factory. The plan is to invest tens of billions of dollars.
federal dollar
However, the Wall Street Journal reported earlier this month that Intel plans to delay completion of the Ohio site until 2026, citing a slowing chip market and delays in deploying federal funds.
It remains unclear whether this year's wave of federal funding will accelerate those plans, or TSMC, which has also applied for U.S. funding and whose chip factory in Arizona has been delayed. is.
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Micron and Samsung Electronics are also building new chip factories in the United States and have applied for the program. — Stephen Nellis and Mrinalika Roy, (c) 2024 Reuters