Intel and Biden-Harris Administration seal $7.86B funding deal to bolster US CHIPS Act.

Intel receives $7.86 billion in funding from the U.S. Department of Commerce, in addition to a $3 billion contract, to support its semiconductor manufacturing and advanced packaging projects, highlighting the government's confidence in Intel's role in building a resilient and trusted semiconductor supply chain on American soil.

Intel has received a significant boost from the U.S. Department of Commerce, with up to $7.86 billion in direct funding through the U.S. CHIPS and Science Act.
The U.S. government's confidence in Intel's role in building a resilient and trusted semiconductor supply chain on American soil is evident through this funding.
Intel's planned investments in the U.S. extend beyond the projects supported by the CHIPS Act funding, with plans to invest over $100 billion and create thousands of jobs.

Intel, one of the leading semiconductor manufacturers, has received a significant boost from the U.S. Department of Commerce. The department has awarded Intel up to $7.86 billion in direct funding through the U.S. CHIPS and Science Act. This funding is specifically aimed at supporting Intel’s commercial semiconductor manufacturing and advanced packaging projects in various states across the country.

This funding comes in addition to the $3 billion contract that Intel was previously awarded for the Secure Enclave program. The Secure Enclave program focuses on expanding trusted manufacturing of semiconductors for the U.S. government. With these two awards combined, Intel is set to receive substantial financial support to advance its semiconductor projects.

The U.S. government’s confidence in Intel’s role in building a resilient and trusted semiconductor supply chain on American soil is evident through this funding. It highlights the importance of Intel’s contributions to the country’s economic growth and national security.

Intel’s CEO, Pat Gelsinger, expressed his excitement about the funding, stating, “With Intel 3 already in high-volume production and Intel 18A set to follow next year, leading-edge semiconductors are once again being made on American soil.” Gelsinger emphasized the bipartisan support for restoring American technology and manufacturing leadership, which has led to these historic investments.

In addition to the direct funding, Intel also plans to take advantage of a 25% investment tax credit. This credit, combined with the funding, will support Intel’s plans to invest over $100 billion in the U.S. This investment will not only create more than 10,000 company jobs but also generate nearly 20,000 construction jobs and over 50,000 indirect jobs with suppliers and supporting industries.

Intel’s planned investments in the U.S. extend beyond the projects supported by the CHIPS Act funding. These investments will have a significant impact on job creation and the strengthening of U.S. supply chains. They will also foster U.S.-based research and development, ensuring American leadership in semiconductor manufacturing and technology capabilities.

Alongside its manufacturing and technology investments, Intel is committed to supporting the American workforce. The company has a long-standing history of investing in education, training, and benefits programs to create the jobs of the future. As part of the CHIPS Act award, Intel has set aside $65 million to support efforts in creating a more skilled semiconductor workforce. A portion of this funding will be used to train students and faculty at all education levels, while another portion will be dedicated to increasing childcare availability near Intel’s facilities.

Intel’s partnership with the Midwest Microelectronics Consortium (MMEC) is another significant development. The consortium’s members will receive funding for technology development projects within the Microelectronics Commons initiative established under the CHIPS Act. These projects will involve various organizations from industry, academia, and government stakeholders, working together to advance domestic microelectronic technology development and strengthen the U.S.-based supply chain.

Overall, Intel’s collaboration with the U.S. Department of Commerce and the funding it has received demonstrates the government’s commitment to supporting the semiconductor industry and ensuring American leadership in this critical field. With these investments, Intel is well-positioned to drive innovation, create jobs, and contribute to the long-term economic growth and national security of the United States.

About Our Team

Our team comprises industry insiders with extensive experience in computers, semiconductors, games, and consumer electronics. With decades of collective experience, we’re committed to delivering timely, accurate, and engaging news content to our readers.

Background Information

About Intel:

Intel Corporation, a global technology leader, is for its semiconductor innovations that power computing and communication devices worldwide. As a pioneer in microprocessor technology, Intel has left an indelible mark on the evolution of computing with its processors that drive everything from PCs to data centers and beyond. With a history of advancements, Intel's relentless pursuit of innovation continues to shape the digital landscape, offering solutions that empower businesses and individuals to achieve new levels of productivity and connectivity.