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[M] Reviewer Join Date: May 2010 Location: Romania
Posts: 152,735
| Intel's Silver Lining is $8.5 Billion CHIPS Act Funding Intel's recent financial woes have brought the company into severe cost-cutting measures, including job cuts and project delays. However, a silver lining remains—Intel is reportedly in the final stages of securing $8.5 billion in direct funding from the US government under the CHIPS Act, delivered by the end of the year. The potential financing comes at a crucial time for Intel, which has been grappling with financial challenges. The company reported a $1.6 billion loss in the second quarter of 2024, leading to short-term setbacks. However, thanks to sources close to the Financial Times, we learn that Intel's funding target will represent the CHIPS Act's largest share, leading to a massive boost to US-based semiconductor manufacturing. https://www.techpowerup.com/327059/i...nd-of-the-year |
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