The CHIPS and Science Act, passed in 2022, may provide Intel with an additional $11 billion in loans. On Wednesday, President Joe Biden will make the prize announcement in Arizona.
U.S. Secretary of Commerce Gina Raimondo told reporters over the phone that the funding will support “leading-edge semiconductors made in the United States” and maintain “America in the driver’s seat of innovation.”
Many of the PCs and data centre servers in use today are powered by chips developed by Intel, a longtime mainstay of the American semiconductor industry.
However, rival AMD and mobile phone chipmaker Qualcomm have outperformed the company in terms of market capitalization, and Nvidia, which leads in artificial intelligence chips, has outpaced the company in terms of sales.
Source (CNBC)
