Intel wins nearly $8 billion in CHIPS Act funding for years-long expansion

The Department of Commerce has awarded Intel Corp. up to $7.865 billion “in direct funding” under the CHIPS and Science Act, according to a Nov. 26 release by the National Institute of Standards and Technology’s CHIPS for America program.

“The award follows the previously signed preliminary memorandum of terms, announced on March 20, 2024, and the completion of the Department’s due diligence. The award will directly support Intel’s expected U.S. investment of nearly $90 billion by the end of...