Sightful Invest
  • Business
  • Investing
  • Politics
  • Stock
Top Posts
Comey to be arraigned in federal court after...
Comey pleads not guilty in court after indictment...
Houthi rebels test US ceasefire with deadly strike...
Kushner joins Witkoff for Gaza ceasefire talks as...
Cuomo rips Mamdani’s freebie ‘fantasy,’ says AOC proved...
White House escalates shutdown consequences as Democrats show...
Moderate Dem undercuts Jeffries on ObamaCare compromise as...
MIKE DAVIS: The Supreme Court betrayed again —...
Senate Democrats defy White House warnings, again block...
Greta Thunberg slammed for using image of starved...
  • Business
  • Investing
  • Politics
  • Stock

Sightful Invest

Investing

Biden Admin Awards Intel US$7.9 Billion for Semiconductor Sector Growth

by admin November 28, 2024
November 28, 2024
Biden Admin Awards Intel US$7.9 Billion for Semiconductor Sector Growth

The Biden administration has announced a US$7.87 billion funding agreement with Intel (NASDAQ:INTC) under the CHIPS Incentives Program as part of its efforts to bolster the US semiconductor manufacturing industry.

The award represents one of the most substantial semiconductor manufacturing investments facilitated by the CHIPS for America program.

Intel plans to invest over US$90 billion in the United States by the end of the decade, enhancing the US capacity for manufacturing leading-edge semiconductors. These advanced chips are integral to crucial industries such as artificial intelligence and defense systems.

The company’s expansion plan spans facilities in Arizona, New Mexico, Ohio and Oregon. The expansion is expected to generate approximately 10,000 permanent manufacturing jobs and 20,000 construction jobs across the four states involved.

The Department of Commerce’s direct funding will support Intel’s fabrication and packaging of these chips, addressing vulnerabilities in the global semiconductor supply chain.

Secretary of Commerce Gina Raimondo hailed the partnership as pivotal for revitalizing the domestic semiconductor industry and securing US technological leadership.

“The CHIPS for America program will supercharge American innovation and technology and make our country more secure,” she stated in the announcement.

Meanwhile, Intel’s CEO Pat Gelsinger reiterated the company’s commitment to advancing semiconductor manufacturing on American soil, citing bipartisan support as a driving force behind the company’s investment strategy.

Intel’s semiconductor manufacturing process technologies, including Intel 3 and Intel 18A , are poised to contribute significantly to the US domestic semiconductor ecosystem.

CHIPS for America, part of the broader CHIPS and Science Act, is a cornerstone of the current administration’s economic agenda.

The initiative aims to re-shore critical manufacturing capabilities and stimulate economic growth, enhancing US competitiveness and addressing economic vulnerabilities.

Overall, CHIPS for America has allocated approximately US$19 billion in incentives to date, supporting projects across 20 states and facilitating the creation of an estimated 125,000 jobs.

Public investments in the semiconductor and electronics industries have played a large role in catalyzing over US$450 billion in private sector commitments in these industries since the beginning of the Biden-Harris administration.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

previous post
NOVONIX Signs Synthetic Graphite Offtake Deal with Volkswagen’s PowerCo
next post
Rua Gold Acquires Siren Gold’s Reefton Assets for AU$22 Million

You may also like

Denarius Metals Announces Binding Letter of Intent with...

May 7, 2025

Tech 5: Trump’s Tariffs Send Stock Market into...

April 6, 2025

Forum Energy Metals

September 28, 2024

Placement Shares Issued & Drilling Approval Expected August

July 10, 2025

How to Invest in Potash Stocks

February 7, 2025

Tech 5: Tech Stocks React to Tariffs in...

April 12, 2025

Could the Silver Price Really Hit $100 per...

July 22, 2024

Results of Entitlement Offer

December 3, 2024

Tech 5: CoreWeave Inks US$11.9 Billion OpenAI Deal,...

March 16, 2025

Zodiac Gold: Advancing a District-scale West African Gold...

August 2, 2024

Recent Posts

  • Comey to be arraigned in federal court after being indicted for alleged false statements, obstruction
  • Comey pleads not guilty in court after indictment on alleged false statements, obstruction
  • Houthi rebels test US ceasefire with deadly strike on cargo ship
  • Kushner joins Witkoff for Gaza ceasefire talks as Trump pushes peace plan: ‘Cautiously optimistic’
  • Cuomo rips Mamdani’s freebie ‘fantasy,’ says AOC proved socialism fails after killing NYC Amazon deal

    Sign up for our newsletter to receive the latest insights, updates, and exclusive content straight to your inbox! Whether it's industry news, expert advice, or inspiring stories, we bring you valuable information that you won't find anywhere else. Stay connected with us!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Categories

    • Business (936)
    • Investing (3,147)
    • Politics (3,845)
    • Stock (4)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: sightfulinvest.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 Sightful Invest. All Rights Reserved.