Intel Gets Nearly $20B in Federal Funds, Loans to Boost US Chip Production
In swing state Arizona, an $8.5 billion CHIPS grant spells 'jobs' more than geopolitics
In the booming Phoenix metro area, Washington policymakers’ rare bipartisan push to bolster national security in their high-tech arms race with China brings major enthusiasm for something more basic: jobs.
A fresh influx of $8.5 billion in CHIPS and Science Act funding to help Intel build two semiconductor plants and upgrade an existing one in Chandler, 30 minutes southeast of downtown Phoenix, is expected to bring thousands of high-paying roles to the area.
Intel embarking on a 'journey to rebuild' US chip domination, CEO says
Intel CEO Pat Gelsinger is sharing the lead technology company’s excitement over billions of dollars in federal grants that will help the U.S. return to chip production prominence.
"This is a big investment to be a leading technology supplier for something so critical to our nation, the economy and our security. We're excited," Gelsinger said in a wide-ranging interview airing on "The Claman Countdown" Wednesday and Thursday. "Clearly, we are on a journey to rebuild our leadership position."
Biden touts ‘landmark agreement’ with Intel during visit to Arizona
President Biden on Wednesday boasted about a “landmark agreement” between his administration and Intel to invest up to $8.5 billion in federal funds in semiconductor facilities in Arizona and three other states, arguing it would transform the country’s manufacturing capacity.
Biden toured an Intel campus in Chandler, Ariz., where he delivered remarks on the latest public-private partnership struck through the bipartisan CHIPS and Science Act.