The US will award Intel $8.5 billion in grants and as much as $11 billion in loans to help fund an expansion of its semiconductor factories, marking the largest award from a programme designed to reinvigorate the American chip industry.
The package will support more than $100 billion in US investments from Intel, including efforts to produce cutting-edge semiconductors at large-scale plants in Arizona and Ohio, the commerce department announced on Wednesday.The money also will help pay for equipment research & development and advanced packaging projects at smaller facilities in Oregon and New Mexico. Intel shares were up 3.5% intraday. They had declined 16% this year.
The package will support more than $100 billion in US investments from Intel, including efforts to produce cutting-edge semiconductors at large-scale plants in Arizona and Ohio, the commerce department announced on Wednesday.The money also will help pay for equipment research & development and advanced packaging projects at smaller facilities in Oregon and New Mexico. Intel shares were up 3.5% intraday. They had declined 16% this year.