Intel awarded up to $8.5 billion in CHIPS Act grants, with billions more in loans available

KEY POINTS

• Intel is in line to receive as much as $8.5 billion in direct funding from the federal government as part of the CHIPS Act, the White House said on Wednesday.
• The company could also receive up to $11 billion in loans tied to the legislation, which was passed in 2022.
• The awards highlight the scale of the Biden administration’s push to subsidize semiconductor manufacturing on U.S. soil.