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Intel and the U.S. Commerce Department on Wednesday announced that they had inked a preliminary agreement under which Intel can get $8.5 billion in direct funding under the CHIPS and Science Act, $11 billion in low-interest loans under the same law, and a 25% investment tax credit on up to $100 billion of capital expenditures over the next five years. The funds will be used to expand or build new Intel’s semiconductor manufacturing plants in Arizona, New Mexico, Ohio, and Oregon, potentially creating up to 30,000 jobs.
« Today is a defining moment for the U.S. and Intel as we work to power the next great chapter of American semiconductor innovation, » said Intel CEO Pat Gelsinger. « AI is supercharging the digital revolution and everything digital needs semiconductors. CHIPS Act support will help to ensure that Intel and the U.S. stay at the forefront of the AI era as we build a resilient and sustainable semiconductor supply chain to power our nation’s future. »
Intel is working on several important projects, including new semiconductor production facilities and advanced packaging facilities.
