US to Award $19.5B to Intel for Semiconductor Factory Expansion

The US is set to award Intel Corp. $8.5 billion in grants and as much as $11 billion in loans to support the expansion of its semiconductor factories. This marks the largest award from a program aimed at revitalizing the domestic chip industry. The funding will bolster over $100 billion in US investments from Intel, focusing on the production of cutting-edge semiconductors at large-scale plants in Arizona and Ohio. Additionally, the money will contribute to equipment research and development, as well as advanced packaging projects at smaller facilities in Oregon and New Mexico.