Intel will receive $7.86bn in direct funding under the CHIPS and Science Act to advance its semiconductor manufacturing and packaging sites in Arizona, New Mexico, Ohio, and Oregon.
The US technology company finalised an agreement with the US Department of Commerce for the funding. This follows a non-binding preliminary memorandum of terms to provide up to $8.5bn in direct funding under the Act in March 2024.
Intel will invest more than $100bn in the US to expand chipmaking and advanced packaging capacity and capabilities critical to economic and national security.
