Intel just got an $8.5 billion government grant to expand its US chip factories.
It’s the largest grant awarded so far under the CHIPS Act to spur domestic semiconductor production, and Intel plans to use those funds as part of a $100 billion investment to build and expand its facilities across four states (Arizona, Ohio, New Mexico, and Oregon).
Intel could also be eligible for another $11 billion in loans under the same legislation, a signature piece of the president’s economic agenda that Congress passed in 2022.
The push comes amid growing concern about sourcing chips from Asia, but it won’t be until 2027 at the earliest that construction is completed on some of Intel’s projects, the crowning jewel of them being a $20 billion factory in Columbus, Ohio.
How do you think this will impact the microchip crisis?