Intel Stock News

Intel (INTC) and the Biden administration have finalized terms to an agreement that will see the chipmaker receive up to $7.86 billion in CHIPS Act funding, down from the originally announced $8.5 billion preliminary agreement in March.

Qualcomm Inc (NASDAQ:QCOM, ETR:QCI).'s interest in acquiring Intel Corp (NASDAQ:INTC, ETR:INL).

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Intel is getting $7.9 billion in federal grants from the Biden administration. The US Department of Commerce announced the grant, part of the CHIPS Act, on Tuesday.

The U.S. Commerce Department said Tuesday it was finalizing a $7.86 billion government subsidy for Intel , down from $8.5 billion announced in March after the California-based chips maker won a separate $3 billion award from the Pentagon.

The Silicon Valley company will receive less money from the CHIPS Act after winning a $3 billion military contract and changing some of its investment commitments.

SANTA CLARA, Calif.--(BUSINESS WIRE)--The U.S. Department of Commerce has awarded Intel Corporation up to $7.86 billion in direct funding through the U.S. CHIPS and Science Act.

The Commerce Department calls it a “huge step” in strengthening the U.S. chip supply chain. Earlier this year, it had proposed up to $8.5 billion in grants to Intel.