Intel has received a $2.2 billion grant from the U.S. Department of Commerce, as reported in the company's financial statement. The company's CFO, Dave Zinsner, mentioned that Intel will receive $1.1 billion by the end of 2024 and another $1.1 billion in January 2025. These grants are tied to the company's achievement of certain goals. Additionally, $5.66 billion of the grant has yet to be paid.
Under the "U.S. CHIPS and Science Act" passed in 2022, Intel has received a total of $7.86 billion in grants. The company plans to use this funding for chip manufacturing and advanced packaging techniques in Arizona, New Mexico, Ohio, and Oregon. The act was enacted to boost chip production in the U.S., with a total of $52 billion allocated for this purpose.
Zinsner noted that Intel has been in contact with the Trump administration, which supports strengthening semiconductor production in the U.S. The company plans to continue collaborating with this administration in the future.
