As the Biden administration works to distribute monies prior to President-elect Trump’s inauguration, a source close to the situation said that chipmaker Intel and the CHIPS Act Office are nearing an agreement that would grant the firm a grant of about $8 billion.
The $8 billion will support Intel’s factory construction projects. The Commerce Department is anticipated to complete the awards in the upcoming weeks.
An unusual bright light in Intel’s stumbling attempts to expand its fabrication business is that the corporation is also in line for a $3 billion contract to make chips for the Department of Defence, which was announced in September.
Intel and the Commerce Department did not comment on the situation. First, the Wall Street Journal said the two parties were almost done with the grant.
Source (CNBC)
