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Intel is set to receive up to $8.5 billion of CHIPS Act funding.
The White House says it’s reached preliminary terms with the semiconductor giant to award it the money as part of attempts to shore up US-based chip production. Intel expects to spend the money on manufacturing and research facilities in Arizona, New Mexico, Oregon, and Ohio, with the latter playing host to a $20 billion fab. Other recipients of CHIPS funding include GlobalFoundries, Microchip, and BAE Systems.
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