Intel Secures Largest CHIPS Act Funding To Date [Forbes]
GlobalFoundries Inc. (GFS)
Company Research
Source: Forbes
right) and other local leaders and Intel employees during a tour of an Intel semiconductor factory in Chandler, Arizona, on Wednesday, March 20, 2024. The tour stopped to inspect wafers representing Intel's goal of completing five process nodes in four years. Earlier that day, the Biden-Harris Administration announced that Intel and the U.S. Department of Commerce had signed a non-binding preliminary memorandum of terms for up to $8.5 billion in direct funding to Intel for commercial semiconductor projects under the CHIPS and Science Act. On March 20, 2024, the Biden-Harris Administration announced the biggest CHIPS and Science Act grant to date with Intel and the U.S. Department of Commerce signing a non-binding preliminary memorandum for up to $8.5 billion in direct funding to Intel for commercial semiconductor projects. In addition, Intel also expects to benefit from a U.S. Treasury Department Investment Tax Credit (ITC) of up to 25% on more than $100 billion in qualified capital
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