Intel in Talks for More Than $10 Billion in Chips Act Incentives
- Money to come from $39 billion grant and $75 billion loan pool
- Award to be announced in the coming weeks, people familiar say
Intel Core 14th Gen CPU at the South by Southwest Sydney festival in Australia in Oct. 2023.
Photographer: Brent Lewin/BloombergThe Biden administration is in talks to confer more than $10 billion in subsidies to Intel Corp., people familiar with the matter said, in what would be the largest award yet under a plan to bring semiconductor manufacturing back to US soil.
Intel’s award package is expected to include both loans and direct grants, according to the people, who asked not to be identified because the deliberations are private. They stressed that negotiations are still underway.