Branson Brooks
Intel Corporation has received $7.86 billion in direct funding from the U.S. Department of Commerce to support microelectronics manufacturing under the CHIPS and Science Act.
Intel aims to enhance semiconductor production and packaging projects in several testing locations, the multinational technology company announced Tuesday. The funding follows a $3 billion contract awarded to Intel under the CHIPS for America Program in September.
U.S. Secretary of Commerce Gina Raimondo said, “The CHIPS for America program will supercharge American technology and innovation and make our country more secure – and Intel is expected to play an important role in the revitalization of the U.S. semiconductor industry.”
Intel’s 2020s Chip Production Outlook
Intel will incorporate the newly received funding into its October-announced expansion efforts, which it values at more than $100 billion. By 2030, the company said it intends to have spent almost $90 billion on semiconductor production, hopefully generating 10,000 manufacturing and 20,000 construction jobs in the four states Raimondo cited.
Pat Gelsinger, CEO of Intel, looks forward to delivering the company’s processing technologies, including Intel 3 and Intel 18A, to advance national security nationwide.
“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,” said Gelsinger.
“Strong bipartisan support for restoring American technology and manufacturing leadership is driving historic investments that are critical to the country’s long-term economic growth and national security. Intel is deeply committed to advancing these shared priorities as we further expand our U.S. operations over the next several years,” Gelsinger added.
The company and the DOC were clear that the funds will be issued on a conditional basis as milestones are reached.
