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Semiconductor giant Intel Corporation has already received $ 2.2 billion in Union Cary Grant from the U.S. Department of Commerce through the U.S. CHIPS and Science Act , the company shared during its Thursday earnings call .
Dave Zinsner , Intel ’s co - interim CEO , executive frailty chairman , and CFO , articulate the Silicon Valley - based caller receive the first tranche of $ 1.1 billion in Union Duncan Grant at the end of 2024 and an additional $ 1.1 billion in January 2025 .
These grants are based on attain certain milestone , Zinsner impart . Another $ 5.66 billion has yet to be dispersed .
The company wasawarded a sum of $ 7.86 billion in Union grantsto chassis semiconductors in the U.S. in November as part of the U.S. Department of Commerce ’s U.S. CHIPS and Science Act . While a hefty sum , this amount was less than the original $ 8.5 billion estimate .
When Intel was awarded its subsidisation money in November , the party say it was planning to put the funds toward manufacturing and advanced promotion , or toward proficiency to assemble and integrate multiple semiconductor chips into one package . This will be carried out at Intel facility across Arizona , New Mexico , Ohio , and Oregon .
TheU.S. CHIPS and Science Actwas signed into federal law by former president Joe Biden in 2022 in an effort to increase domestic semiconductor manufacturing . The routine rig away $ 52 billion in subsidies for domestic chip manufacturing business .
While already two years quondam , the CHIPS Act faces some uncertainty under the Trump establishment . If President Donald Trump ’s Union funding freeze , which is presently being blocked by a Union justice , does go into effect , it would affect the Commerce Department employees focused on the CHIPS Act , according toBloomberg coverage .
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Zinsner had a rosier outlook , though . When ask by an analyst , he said that Intel has already been in communication with the Trump administration and “ feels really good ” about the disposal ’s lookout on bringing semiconductor manufacturing back to the United States .
“ We bet forrader to continue troth with the Trump giving medication as we shape up this work and support their efforts to strengthen U.S. technology and fabrication leadership , ” Zinsner said before on the call .
