(CNBC) Intel could receive an additional $11 billion in loans from the CHIPS and Science Act, which was passed in 2022. The awards will be announced by President Joe Biden in Arizona on Wednesday. The money will help “leading-edge semiconductors made in the United States” keep “America in the driver’s seat of innovation,” U.S. Secretary of Commerce Gina Raimondo said on a call with reporters. Intel and the White House said their agreement is nonbinding and preliminary and could change.
Intel awarded up to $8.5 billion in CHIPS Act grants, with billions more in loans available
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