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Semiconductor giant Intel Corporation has already received $2.2 billion in federal grants from the U.S. Department of Commerce through the U.S. CHIPS and Science Act, as shared during its Thursday earnings call. Dave Zinsner, Intel’s co-interim CEO, executive vice president, and CFO, mentioned that the company received the first tranche of $1.1 billion at the end of 2024 and an additional $1.1 billion in January 2025. These grants are based on reaching certain milestones, with another $5.66 billion yet to be dispersed.
Intel was awarded a total of $7.86 billion in federal grants in November to build semiconductors in the U.S. under the U.S. CHIPS and Science Act. The company plans to use the funds for manufacturing and advanced packaging techniques at its facilities in Arizona, New Mexico, Ohio, and Oregon.
The U.S. CHIPS and Science Act, signed into law by former president Joe Biden in 2022, allocated $52 billion in subsidies for domestic chip manufacturers. Despite facing uncertainty under the Trump administration, Intel remains optimistic about the administration’s support in bringing semiconductor manufacturing back to the United States.
Zinsner expressed confidence in continued engagement with the Trump administration to strengthen U.S. technology and manufacturing leadership.
