The Biden administration awarded Intel (INTC) $8.5 billion in U.S. grants as part of the CHIPS and Science Act. The chip company will utilize the funds to build out its proposed domestic semiconductor plants in the U.S. Intel CEO Pat Gelsinger spoke with Yahoo Finance Executive Editor Brian Sozzi about the importance of reshoring semiconductor production. The segment is from March 22, 2024.
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So I didn’t hear the valid reason to earn a 8.5 billion dollar grant. What was it?
10% went to the “Big Guy”
Gelsinger explained it in the video, did you not watch it? These are subsidies that ensure Americans firms are designing a̲n̲d̲ manufacturing chips, while still remaining competitive in a global market.
@@yungone369 flew right over your head.
Thats a whole lotta money. A whole $8.5
Must be nice to be Intel and not have to earn your money in a competitive market, but I’m sure other companies will get access to the chip manufacturing so they can build exploits into their chips too, right?