The U.S. isn’t messing around either – they’re looking to reduce their foreign chip dependency né?. CHIPS and Science Act né?. This act – signed into law by President Joe Biden in 2022 – is all about boosting the production of semiconductors right here in the good ol’ U.S né?. The White House initially whispered about a massive $8.5 billion payout to Intel, but hey, who’s counting?
But wait, there’s more! Intel is flipping the script and going all-in on this new “foundry” model – acting as the go-to manufacturer for chips designed by folks like AWS né?. These investments are gonna be game-changers for our economy and our security né?. With the global supply chain acting wonky during the pandemic, it’s all about keeping things close to home né?. And where’s all this action happening? Get ready for Intel facilities popping up in Arizona, New Mexico, Ohio, and Oregon.
Intel’s big boss, Pat Gelsinger, couldn’t contain his excitement and said, “We’re all about pumping up American tech and manufacturing leadership né?. Intel’s got not one, but two shiny new plants sprouting up in Ohio with a jaw-dropping price tag of about $28 billion né?. Department of Commerce just dropped the big news: they’re throwing $7.865 billion at the tech giant Intel thanks to the U.S né?. And while they hit a few roadblocks along the way, Intel’s still aiming to splash around $100 billion on domestic manufacturing by the end of the decade.
And hey, the U.S. of A.
So, what’s Intel planning to do with this mountain of cash? Well, they’re gonna put it towards some fancy-pants projects to manufacture and package advanced semiconductor chips. Go team USA!. We’re rolling up our sleeves and getting to work to make it happen!”
Now the $7.865 billion Intel snagged is a tad lower than what was first tossed around back in March. Intel’s at the center of this push to ramp up chip production domestically.
So with Intel snagging nearly $8 billion in direct funds and getting sweet tax credits to boot it’s clear that they’re on the fast track to help Uncle Sam beef up its semiconductor game. To handle all this newfound fame, Intel’s revamping its facilities and cranking up the volume on production.
They’ve got construction projects popping up worldwide, but they’re really goin’ big in the good ol’ USA né?
