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Intel latest to earn US money for chips, additional grants and loans expected

A message connected to Artificial Intelligence (AI) is projected on a screen in Intel pavilion, during the 54th annual meeting of the World Economic Forum in Davos, Switzerland, January 16, 2024

WASHINGTON, March 20 (mod1s) - Intel Corp (INTC.O), opens new tab on Wednesday was the latest semiconductor business to be given billions of dollars in grants and loans from the U.S. government in President Joe Biden's push to boost local chip manufacturing. 

Below is a summary of the awards made thus far and those planned in the weeks and months ahead.


The Biden administration said it has reached a preliminary deal with Intel for $8.5 billion in grants and up to $11 billion in loans for plants and renovations to manufacturing locations in Arizona, Ohio, Oregon and New Mexico.


In February, the Biden administration granted $1.5 billion to GlobalFoundries (GFS.O), opens new tab, the world's third-largest contract chipmaker, to establish a semiconductor manufacturing facility in Malta, New York, and expand existing operations there and in Burlington, Vermont.


In January, Commerce said Microchip Technology (MCHP.O), opens new tab will obtain $162 million in government incentives, enabling the business to treble production of mature-node semiconductor chips and microcontroller units at two U.S. plants.


The U.S. Commerce Department in December said it intended to pay $35 million to BAE Systems (BAES.L), opens new tab to double manufacturing in New Hampshire for crucial semiconductor chips used in F-35 fighter fighters and commercial satellites.


Awards for South Korea's Samsung and Taiwan's Taiwan Semiconductor Manufacturing Co (2330.TW), opens new tab and are anticipated in the following weeks and months.


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