Intel Agrees to Terms, Will Receive Up to $7.9 Billion in CHIPS Funding

Key TakeawaysIntel and the Biden administration have agreed to terms for the chipmaker to receive up to $7.86 billion in CHIPS Act funding.The funding will support the expansion or building of new facilities across Arizona, New Mexico, Ohio, and Oregon.Intel will receive less than the initially announced reward in March, which was up to $8.5 billion, because of other existing defense contracts. Intel (INTC) and the Biden administration have finalized terms to an agreement that will see the chipmaker receive ...