Intel receiving whopping $20B from Biden to boost US chip output and reduce reliance on China, Taiwan

The Biden administration on Wednesday said it is awarding Intel nearly $20 billion in grants and loans as part of the CHIPS Act, supercharging the company’s domestic semiconductor output and marking the government’s largest outlay to subsidize leading-edge chip production.President Joe Biden will announce the preliminary agreement for $8.5 billion in grants and up to $11 billion in loans for Intel in Arizona, where some of the funding will be used to build two new factories and modernize an existing one.Com ...