Intel (NASDAQ:INTC) is in discussions with the Biden administration to be awarded greater than $10 billion in subsidies for constructing semiconductors.
The award package deal is more likely to embody each loans and direct grants, in accordance with a Bloomberg report on Friday, which cited folks acquainted with the matter. Negotiations are nonetheless ongoing.
The subsidies are from the 2022 Chips and Science Act, which put aside $39 billion in direct grants in addition to loans and mortgage ensures value $75 billion to assist semiconductor corporations make chips within the US.
Intel (INTC) and the Commerce Division declined to remark to Bloomberg.
It is not precisely recognized how Intel’s (INTC) award will likely be cut up between grants and loans, the WSJ stated.
The information comes after the WSJ reported late final month that the Biden administration was expected to award billions of {dollars} in subsidies to Intel (INTC), Taiwan Semiconductor (TSM), and different semiconductor corporations within the coming weeks for brand new factories.
The WSJ stated on the time the subsidies had been anticipated to be introduced earlier than Biden’s State of the Union speech on March 7, although a separate Bloomberg report indicated the timing could be the finish of March. Micron (MU), Texas Devices (TXN), and GlobalFoundries (GFS) are additionally more likely to be awarded subsidies, business executives advised the WSJ.
In August, one yr after the U.S. CHIPs Act was signed into regulation, the White Home touted its achievements, together with the truth that more than 460 companies have submitted statements of curiosity to obtain funding.
Intel (NASDAQ:INTC) is in discussions with the Biden administration to be awarded greater than $10 billion in subsidies for constructing semiconductors.
The award package deal is more likely to embody each loans and direct grants, in accordance with a Bloomberg report on Friday, which cited folks acquainted with the matter. Negotiations are nonetheless ongoing.
The subsidies are from the 2022 Chips and Science Act, which put aside $39 billion in direct grants in addition to loans and mortgage ensures value $75 billion to assist semiconductor corporations make chips within the US.
Intel (INTC) and the Commerce Division declined to remark to Bloomberg.
It is not precisely recognized how Intel’s (INTC) award will likely be cut up between grants and loans, the WSJ stated.
The information comes after the WSJ reported late final month that the Biden administration was expected to award billions of {dollars} in subsidies to Intel (INTC), Taiwan Semiconductor (TSM), and different semiconductor corporations within the coming weeks for brand new factories.
The WSJ stated on the time the subsidies had been anticipated to be introduced earlier than Biden’s State of the Union speech on March 7, although a separate Bloomberg report indicated the timing could be the finish of March. Micron (MU), Texas Devices (TXN), and GlobalFoundries (GFS) are additionally more likely to be awarded subsidies, business executives advised the WSJ.
In August, one yr after the U.S. CHIPs Act was signed into regulation, the White Home touted its achievements, together with the truth that more than 460 companies have submitted statements of curiosity to obtain funding.