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Biden announces major investment in semiconductor manufacturing with Intel receiving billions for projects in 4 states

President Biden has announced a significant agreement with Intel to provide up to $8.5 billion in grants and $11 billion in loans for semiconductor manufacturing projects in Arizona, Ohio, New Mexico, and Oregon. The funding, part of the CHIPS Act, aims to boost domestic chip production and create thousands of jobs. This investment is seen as crucial for national security and economic competitiveness, as the United States aims to reduce reliance on foreign chip suppliers.

Sources: - https://www.reuters.com/technology/intel-prepares-100-bln-spending-spree-across-four-us-states-2024-03-20/ - https://apnews.com/article/biden-intel-computer-chips-arizona-ohio-658029c7ecda43c0a1d18c4f0a6529fc - https://www.cnn.com/2024/03/20/politics/chips-act-intel-funding-biden/index.html - https://www.washingtonpost.com/business/2024/03/20/biden-chips-intel-phoenix/ - https://thehill.com/homenews/administration/4543047-biden-announces-major-semiconductor-deal-with-intel-to-invest-in-four-states/ - https://www.npr.org/2024/03/20/1239533039/biden-chips-arizona-intel - https://www.wsj.com/tech/intel-gets-8-5-billion-award-for-u-s-chip-plant-construction-4b3c42ec

Image credit: Justin Sullivan/Getty Images

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