Boosting Domestic Semiconductor Manufacturing

Biden Awards $85 Billion to Intel for Chip Production

Boosting Domestic Semiconductor Manufacturing

Major Investment in Advanced Technology

President Biden has awarded Intel Corporation $85 billion in grants and up to $11 billion in loans to bolster domestic semiconductor manufacturing. This significant investment is part of the CHIPS Act, passed by Congress in 2022, which aims to strengthen the United States' competitiveness in the global semiconductor industry.

The CHIPS funds will be used to establish new fabrication plants (fabs) and advanced packaging facilities in four states: Arizona, New Mexico, Ohio, and Oregon. These facilities will produce cutting-edge semiconductors, critical components used in a wide range of technologies, including computers, smartphones, and electric vehicles.

The investment will create thousands of new jobs and boost economic growth in the semiconductor sector. It also aligns with the Biden administration's broader efforts to increase domestic production of essential technologies and reduce reliance on foreign sources.