Intel awarded $7.9 billion from the CHIPS Act ahead of Trump's second term

Core Points - Intel is set to receive $7.9 billion in federal grants from the Biden administration as part of the CHIPS Act [1][2] - The grant amount is $600 million less than the initially announced $8.5 billion due to a separate $3 billion grant for military chip production [2] - Intel is expected to receive at least $1 billion of the total grant before the end of the year [3] - The CHIPS Act funding will support Intel's plans to increase semiconductor production in the US, with nearly $90 billion in investments expected by the end of the decade [4] - Intel's CEO emphasized the importance of bipartisan support for restoring US technology and manufacturing leadership [5] - Intel's share price has decreased by almost 50% this year, with significant losses and layoffs reported [5] - Qualcomm's interest in acquiring Intel has diminished due to complications in the acquisition process [6]