Intel Stock Rises on Up To $8.5B CHIPS Act Grant

KEY TAKEAWAYSThe U.S. government awarded Intel up to $8.5 billion in CHIPS Act funding to expand domestic chip production facilities.Intel could also be eligible for an additional $11 billion in loans.This funding will support the construction and expansion of Intel facilities in Arizona, Ohio, New Mexico, and Oregon, creating nearly 30,000 jobs. Intel Corp. (INTC) shares rose about 2.5% in premarket trading Wednesday after the White House announced that the chipmaker has been awarded up to $8.5 billion in ...