Intel Stands to Win $3.5 Billion to Produce Chips for Military
- Expected investment positions Intel as dominant defense player
- Funding is included in bill Biden’s expected to sign this week
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The US government is poised to invest $3.5 billion in Intel Corp. so the chipmaker can produce advanced semiconductors for military and intelligence programs, according to congressional aides.
The money, tucked into a fast-moving spending bill the House passed on Wednesday, would establish Intel as a dominant domestic player in the lucrative defense market.