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432 Intel's CHIPS Act Funding Cut By Over $600 Million

Slashdot
BeauHD @ Slashdot · 11/26/2024 16:01 EDT

Intel's CHIPS Act Funding Cut By Over $600 Million

The Biden administration is reducing Intel's CHIPS Act award by over $600 million, citing a $3 billion military contract the chipmaker was also awarded. Engadget reports: Initially set to receive $8.5 billion from the domestic silicon production bill, the company will get up to $7.85 billion instead. On Tuesday, The New York Times reported that Intel has extended some plant openings beyond 2030 government deadlines. Intel posted its biggest-ever quarterly loss last month after announcing 15,000 layoffs in A

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