Intel Confirms $3 Billion Pentagon Chips Grant; Shares Gain
- US allocated a total $3.5 billion for military chips program
- Award is on top of $8.5 billion grant for commercial fabs
Intel headquarters in Santa Clara, California.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
Intel Corp. said on Monday that it’s eligible to receive as much as $3 billion in US government funding to manufacture chips for the military, confirming earlier reporting by Bloomberg.
The effort, called the Secure Enclave, aims to establish a steady supply of cutting-edge chips for defense and intelligence purposes. The award is separate from a possible $8.5 billion grant from the 2022 Chips and Science Act that would support Intel’s commercial factories across four US states. In a separate statement Monday, Intel said that those projects continue to make progress.