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
Biden Is Giving $6 Billion , to Micron Technology , for Semiconductor Production.
On April 25, President Biden will travel to Syracuse, NY, to announce over $6 billion in federal grants that his administration is awarding to Micron Technology, NPR reports. .
Senate Majority Leader Chuck Schumer, who was heavily involved in enacting the CHIPS and Science Act, issued a statement about the investment. .
This is the federal government taking back the reins, putting money where its mouth is when we say we want the future of tech to be stamped: 'Made in America.', Senate Majority Leader Chuck Schumer, via statement.
Micron will invest $100 billion of the funds to construct a manufacturing facility in Syracuse.
Schumer referred to the plan as "quite a
great return" on the government's investment.
A factory will also be built in
Boise, Idaho, NPR reports. .
That facility is expected to be ready for production by 2026, while two New York factories will likely be ready by 2028 and 2029.
The White House estimates that
the projects could create 20,000 jobs
in construction and manufacturing.
in addition to "tens of thousands of
indirect jobs in the regions," NPR reports. .
The CHIPS and Science Act has also provided funding for Intel, TSMC and Samsung
Credit: Wibbitz Top Stories Duration: 01:30Published
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