Intel’s Prospective $10B Incentives from Biden Admin Intel’s Prospective $10B Incentives from Biden Admin

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By Ronald Tech

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Intel (NASDAQ:INTC) is currently in negotiations with the Biden administration to potentially secure over $10 billion in subsidies for the production of semiconductors.

The proposed aid package is anticipated to comprise of both loans and direct grants, as per a recent report by Bloomberg, citing sources familiar with the matter.

These incentives are part of the 2022 Chips and Science Act, which earmarked $39 billion for direct grants and $75 billion for loans and loan guarantees to support semiconductor manufacturing within the United States.

Intel (INTC) has neither confirmed nor denied any details regarding the potential allocation of funds between grants and loans, according to the Wall Street Journal (WSJ).

This news follows a previous report by the WSJ, indicating that the Biden administration is expected to allocate billions of dollars in subsidies to Intel (INTC), Taiwan Semiconductor (TSM), and other semiconductor companies in the imminent future to aid in the construction of new facilities.

Micron (MU), Texas Instruments (TXN), and GlobalFoundries (GFS) are also purportedly likely to receive subsidies, based on input from industry executives to the WSJ.

Approximately one year after the U.S. CHIPs Act was enacted, the White House celebrated its accomplishments, highlighting that over 460 companies have submitted statements of interest to vie for funding.

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