Bullet points of Intel Confirms $3 Billion Defense Department Chips Act Grant

Bullet points of Intel Confirms $3 Billion Defense Department Chips Act Grant
- Intel Corp. is set to receive up to $3 billion in US government funding for manufacturing chips for defense and intelligence purposes under the Secure Enclave initiative.
- The award is part of the 2022 Chips and Science Act, aimed at boosting the American semiconductor industry and reducing reliance on Asia.
- This funding is separate from a potential $8.5 billion grant under the Chips Act for supporting commercial factories across four US states.
- Intel's shares rose after the announcement, highlighting the joint commitment with the US government to strengthen the domestic semiconductor supply chain.