Intel Stock Dips After Pentagon Reportedly Pulls Plans

A Bloomberg report indicated the Pentagon is considering ditching plans to spend $2.5 billion on a chip grant to IntelIntel Corp (NASDAQ:INTC) is in the spotlight today, after Bloomberg reported the Pentagon intends to scrap plans to spend $2.5 billion on a chip grant to the company. Those familiar with the situation said it's up to the Commerce department to make up for the shortfall, as President Joe Biden signed into law a defense funding package that allotted $3.5 billion to Intel to produce defense and ...