Biden Administration to Invest $8.5 Billion , in Intel’s Computer Chip Plants.
Biden Administration to Invest $8.5 Billion , in Intel’s Computer Chip Plants.
In addition to $8.5 billion in direct funding, $11 billion will be provided in loans.
The money will come from
the CHIPS and Science Act.
The funds will go toward "computer chip
plants in Arizona, Ohio, New Mexico
and Oregon," CBS News reports. .
According to Intel, the new funding and other investments will create a total of 30,000 jobs in manufacturing and construction.
According to Intel, the new funding and other investments will create a total of 30,000 jobs in manufacturing and construction.
The deal will help the U.S. to produce 20%
of the most advanced computer chips
in the world by 2030, according to
Commerce Secretary Gina Raimondo.
Failure is not an option — leading-edge
chips are the core of our innovation
system, especially when it comes
to advances in artificial intelligence
and our military systems, Commerce Secretary Gina Raimondo, on a call with reporters.
We can't just design chips.
We have to make them in America, Commerce Secretary Gina Raimondo, on a call with reporters.
Biden's funding announcement comes
amid a heated presidential campaign.
Administration officials want to get chip technology funding
"out the door as quickly as possible so that the Biden campaign can point to concrete progress on one of the
White House's signature programs," analysts say.
Intel CEO Pat Gelsinger called the
CHIPS Act "the most critical industrial
policy legislation since World War II.".
We think of this as a defining
moment for the United States, the
semiconductor industry and for Intel, Intel CEO Pat Gelsinger, via statement
Credit: Wibbitz Top Stories Duration: 01:31Published
The European Commission has launched a probe to examine how China favours its domestic companies in tenders for medical devices and weigh possible tit-for-tat measures.
Credit: euronews (in English) Duration: 01:49Published
UNRWA’s commissioner general says attacks on the agency’s reputation were intended to strip Palestinians of refugee status, a day after independent report found Israel still hadn’t provided any evidence staff had links to terror groups.
Credit: euronews (in English) Duration: 02:16Published
![Biden Administration to Invest $8.5 Billion in Intel’s Computer Chip Plants [Video]](https://video.newsserve.net/300/v/20240321/1370081630-Biden-Administration-to-Invest-Billion-in.jpg)
![EU launches probe into China's public procurement of medical devices [Video]](https://video.newsserve.net/300/v/20240424/1373621096-EU-launches-probe-into-China-public-procurement.jpg)
![Far-right German MEP to remain top EU candidate despite aide's arrest on Chinese spying charges [Video]](https://video.newsserve.net/300/v/20240424/1373613676-Far-right-German-MEP-to-remain-top-EU.jpg)
![EU hopeful North Macedonia holds presidential elections [Video]](https://video.newsserve.net/300/v/20240424/1373591440-EU-hopeful-North-Macedonia-holds-presidential-elections.jpg)
![EU foreign policy chief compares Gaza destruction with German cities in WWII [Video]](https://video.newsserve.net/300/v/20240424/1373586678-EU-foreign-policy-chief-compares-Gaza-destruction-with.jpg)
![EU to ban forced-labour products in move mostly targeted at China [Video]](https://video.newsserve.net/300/v/20240423/1373543750-EU-to-ban-forced-labour-products-in-move.jpg)
