Intel Stock Rises After a Report of a $3.5B Pentagon Chip Deal

Key TakeawaysIntel has reportedly won $3.5 billion in grants from the Pentagon to manufacture chips for the U.S. military.Bloomberg reported that Intel's work will be part of the government's Secure Enclave program, which aims to produce advanced chips with military and intelligence applications. The contract comes on top of the potential $8.5 billion in grants and $11 billion in loans that Intel was awarded earlier this year from the CHIPS and Science Act of 2022. Shares of Intel (INTC) advanced Monday, ai ...