Intel receives historic investment from Joe Biden’s government to produce cutting-edge chips

The government of Joe Bidenthrough the United States Department of Commerceawarded to Intel an $8.5 billion grant in direct financing for commercial projects of semiconductors under the CHIPS Act y Science.

In that sense, it was reported that the financing of the CHIPS Act is intended increase semiconductor manufacturing in the neighboring country to the north and research and development capabilities, especially in cutting-edge semiconductors.

Notably Intel is the only American company that designs and manufactures cutting-edge logic chipsso the financing would help boost critical chip manufacturing, research and development projects. Intel in his performances in Arizona, New Mexico, Ohio and Oregon.

“Today is a defining moment for the United States and Intel as we work to drive the next great chapter of American semiconductor innovation,” said Intel CEO Pat Gelsinger.

“AI is driving the digital revolution and everything digital needs semiconductors. Support from the CHIPS Act will help ensure that Intel and the United States stay at the forefront of the era of IA as we build a resilient and sustainable semiconductor supply chain to power our nation’s future,” Gelsinger added.

A historic investment

The proposed funding of the CHIPS Act and Intel’s previously announced plans to invest more than $100 billion in the North American country over five years constitute one of the largest public-private investments ever made in the chip industry of USA.

Thus, this historic investment will create thousands of new jobs in the company and in construction, will strengthen the American supply chains and will help ensure leadership in cutting-edge chip manufacturing and technological capabilities.