Intel Secures $7.86B CHIPS Act Award to Bolster U.S. Semiconductor Leadership

Author

Slice of Manufacturing Team
December 03, 2024

Key Highlights:

  • Intel awarded up to $7.86 billion under the U.S. CHIPS and Science Act for semiconductor manufacturing projects.

  • Investment spans Arizona, New Mexico, Ohio, and Oregon, enhancing U.S.-based chipmaking capabilities.

  • Intel to claim 25% Investment Tax Credit for qualified investments exceeding $100 billion.

  • $65 million allocated to workforce development, including $56 million for training and $5 million for childcare initiatives.

  • Partnership with Midwest Microelectronics Consortium (MMEC) to strengthen U.S. supply chains and R&D.

Source: Direct

Notable Quotes:

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“With Intel 3 already in high-volume production and Intel 18A set to follow next year, leading-edge semiconductors are once again being made on American soil.”

Pat Gelsinger, CEO at Intel
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“The CHIPS for America program will supercharge American technology and innovation and make our country more secure.”

Gina Raimondo, U.S. Secretary at Commerce

Our Take:

This award signals a historic moment in the U.S. semiconductor industry. Intel's partnership with the U.S. government underlines the strategic importance of domestic chip production for economic stability and national security. The CHIPS Act funding not only bolsters Intel’s advanced manufacturing capabilities but also fosters innovation in workforce development and R&D. With plans like Intel 18A and partnerships with industry giants like AWS, Intel is poised to redefine the future of semiconductor technology on a global scale.