{"id":16242,"date":"2024-03-26T17:23:43","date_gmt":"2024-03-26T16:23:43","guid":{"rendered":"https:\/\/telecomkh.info\/?p=16242"},"modified":"2024-03-26T17:23:43","modified_gmt":"2024-03-26T16:23:43","slug":"intel-and-biden-harris-administration-announce-preliminary-terms-for-up-to-8-5-billion-in-direct-funding-under-chips-and-science-act","status":"publish","type":"post","link":"https:\/\/telecomkh.info\/?p=16242","title":{"rendered":"Intel and Biden-Harris Administration announce preliminary terms for up to $8.5 billion in direct funding under CHIPS and Science Act"},"content":{"rendered":"

Proposed funding, coupled with an investment tax credit and eligibility for CHIPS Act loans, would help Intel advance American semiconductor manufacturing and technology leadership in the AI era<\/strong><\/p>\n

The Biden-Harris Administration announced that Intel and the U.S. Department of Commerce have signed a non-binding preliminary memorandum of terms (PMT) for up to $8.5 billion in direct funding to Intel for commercial semiconductor projects under the CHIPS and Science Act.
\nCHIPS Act funding aims to increase U.S. semiconductor manufacturing and research and development capabilities, especially in leading-edge semiconductors. Intel is the only American company that both designs and manufactures leading-edge logic chips. The proposed funding would help advance Intel\u2019s critical semiconductor manufacturing and research and development projects at its sites in Arizona, New Mexico, Ohio and Oregon, where the company develops and produces many of the world\u2019s most advanced chips and semiconductor packaging technologies.
\n\u201cToday is a defining moment for the U.S. and Intel as we work to power the next great chapter of American semiconductor innovation,\u201d said Intel CEO Pat Gelsinger. \u201cAI is supercharging the digital revolution and everything digital needs semiconductors. CHIPS Act support will help to ensure that Intel and the U.S. stay at the forefront of the AI era as we build a resilient and sustainable semiconductor supply chain to power our nation\u2019s future.\u201d
\nTogether, the CHIPS Act proposed funding and Intel\u2019s previously announced plans to invest more than $100 billion in the U.S. over five years constitute one of the largest public-private investments ever made in the U.S. semiconductor industry. The historic investment will create thousands of new company positions and construction jobs, foster U.S.-based R&D, strengthen U.S. supply chains, and help ensure American leadership in leading-edge semiconductor manufacturing and technology capabilities.
\nToday\u2019s announcement demonstrates the U.S. government\u2019s confidence in Intel\u2019s leadership and commitment to expanding U.S. chipmaking capacity and capabilities. It is an investment in America\u2019s technology future, bringing innovation, opportunity and jobs to America.
\n\u201cThere is no one who cares more about revitalizing American manufacturing than President Biden, and today\u2019s announcement is a massive step towards ensuring America\u2019s leadership in manufacturing for the 21st century. With this agreement, we are helping to incentivize over $100 billion in investments from Intel \u2013 marking one of the largest investments ever in U.S. semiconductor manufacturing, which will create over 30,000 good-paying jobs and ignite the next generation of innovation,\u201d said U.S. Secretary of Commerce Gina Raimondo. \u201cThis announcement is the culmination of years of work by President Biden and bipartisan efforts in Congress to ensure that the leading-edge chips we need to secure our economic and national security are made in the U.S.\u201d
\nUnder the PMT, Intel would also have the option to draw upon federal loans of up to $11 billion. Intel also plans to claim the U.S. Treasury Department\u2019s Investment Tax Credit (ITC), which is expected to be up to 25% of qualified investments of more than $100 billion over five years. The PMT provides that the direct funding award and federal loans are subject to due diligence and negotiation of a long-form term sheet and award documents, and are conditional on the achievement of certain milestones and remain subject to availability of funds.<\/p>\n

Above, accompanied by construction crews on Oct. 12, 2023, Intel CEO Pat Gelsinger tours the company’s two new fabrication plants being built in Chandler, Arizona. The new factories on the company’s Ocotillo campus are part of Intel’s multibillion-dollar global manufacturing build-out, which includes new or expanded facilities in Oregon, New Mexico, Ohio, Malaysia, Ireland, Poland, Israel and Germany. (Credit: Intel Corporation)<\/em><\/span><\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Proposed funding, coupled with an investment tax credit and eligibility for CHIPS Act loans, would help Intel advance American semiconductor manufacturing and technology leadership in the AI era The Biden-Harris Administration announced that Intel and the U.S. Department of Commerce have signed a non-binding preliminary memorandum of terms (PMT) for up to $8.5 billion in … <\/p>\n

Continue reading \u00abIntel and Biden-Harris Administration announce preliminary terms for up to $8.5 billion in direct funding under CHIPS and Science Act\u00bb<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":16243,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[59],"tags":[],"_links":{"self":[{"href":"https:\/\/telecomkh.info\/index.php?rest_route=\/wp\/v2\/posts\/16242"}],"collection":[{"href":"https:\/\/telecomkh.info\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/telecomkh.info\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/telecomkh.info\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/telecomkh.info\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=16242"}],"version-history":[{"count":1,"href":"https:\/\/telecomkh.info\/index.php?rest_route=\/wp\/v2\/posts\/16242\/revisions"}],"predecessor-version":[{"id":16244,"href":"https:\/\/telecomkh.info\/index.php?rest_route=\/wp\/v2\/posts\/16242\/revisions\/16244"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/telecomkh.info\/index.php?rest_route=\/wp\/v2\/media\/16243"}],"wp:attachment":[{"href":"https:\/\/telecomkh.info\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=16242"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/telecomkh.info\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=16242"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/telecomkh.info\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=16242"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}