Biden-Harris Administration Finalizes $7.9B in CHIPS Act Funding for Intel

The U.S. Dept. of Commerce introduced Nov. 26 it has finalized as much as $7.86 billion in direct funding from the CHIPS and Science Act for Intel’s business semiconductor manufacturing and packaging tasks underneath building in Arizona, New Mexico, Ohio and Oregon.

“The CHIPS for America program will supercharge American innovation and expertise and make our nation safer—and Intel is enjoying an necessary function within the revitalization of the U.S. semiconductor trade by way of its unprecedented investments throughout Arizona, New Mexico, Ohio and Oregon,” mentioned U.S. Secretary of Commerce Gina Raimondo, in a statement. “Due to the management of President Biden and Vice President Harris, our CHIPS award is enabling Intel to drive one of the crucial vital semiconductor manufacturing expansions in U.S. historical past.”

Remarking on the corporate’s newest funding award, Intel CEO Pat Gelsinger mentioned in a statement, “With Intel 3 already in high-volume manufacturing and Intel 18A set to observe subsequent yr, modern semiconductors are as soon as once more being made on American soil.

“Robust bipartisan assist for restoring American expertise and manufacturing management is driving historic investments which might be vital to the nation’s long-term financial progress and nationwide safety,” Gelsinger continued. “Intel is deeply dedicated to advancing these shared priorities as we additional increase our U.S. operations over the subsequent a number of years.”

This previous March, the Dept. of Commerce and Intel introduced they’d reached preliminary phrases for $8.5 billion in direct funding—roughly $600 greater than was finally awarded. Nevertheless, the extra award in September of this yr for an estimated $3-billion contract with the Dept. of Protection and the Commerce Dept. for the Safe Enclave program required a discount within the newest funding.

“The ultimate complete award is lower than the proposed preliminary award because of a congressional requirement to make use of CHIPS funding to pay for the $3-billion Safe Enclave program,” Intel mentioned in a press release. The Safe Enclave program helps manufacturing of microelectronics and making certain a home provide chain of superior semiconductors for nationwide safety functions, based on the DOD.