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Intel officially announced an agreement with President Donald Trump’s administration on Friday afternoon, following Trump’s statement that the government would be taking a 10% stake in the struggling chipmaker. While Intel says the government is making an “$8.9 billion investment in Intel common stock,” the administration does not appear to be committing new funds. Instead,…
Semiconductor giant Intel Corporation has already received $2.2 billion in federal grants from the U.S. Department of Commerce through the U.S. CHIPS and Science Act, the company shared during its Thursday earnings call. Dave Zinsner, Intel’s co-interim CEO, executive vice president, and CFO, said the Silicon Valley-based company received the first tranche of $1.1 billion…
The U.S. Department of Commerce today confirmed it has awarded $7.865 billion to chip giant Intel under the U.S. CHIPS and Science Act, a federal statute signed into law by President Joe Biden in 2022 to boost domestic semiconductor manufacturing. The figure is notably lower than the potential highest figure announced back in March, when…
Commerce Secretary Gina Raimondo proudly held up the progress of American industry on semiconductor manufacturing Sunday, declaring that the U.S. has “out-innovated” China as the two nations fight to advance their domestic technology manufacturing. Semiconductor manufacturing has been a major priority of President Biden’s domestic policy, with Raimondo at the head. Biden has repeatedly held…
It has been an increasingly puzzling week for market watchers and economists alike, as the American economy continues to resist a recession and stymy policymakers hoping to lower inflation and stave off a downturn. A gangbusters September jobs report is putting the efficacy of Federal Reserve interest rate hikes into question, just as falling crude…