U.S. Invests Nearly $20 Billion in Intel's Semiconductor Expansion

The investment aims to bolster domestic chip production, create thousands of jobs, and enhance national security.

The U.S. Department of Commerce has reached a preliminary agreement with Intel, providing up to $8.5 billion in grants and $11 billion in loans under the CHIPS and Science Act.
President Biden's visit to Intel's Ocotillo campus in Arizona highlights the administration's commitment to revitalizing America's semiconductor manufacturing industry.
The investment aims to create nearly 30,000 jobs across Intel facilities in Arizona, Ohio, New Mexico, and Oregon, with significant impacts on local economies and workforce development.
Intel's expansion is part of a broader effort to secure the U.S. supply chain and enhance national security by increasing domestic production of semiconductors.
This announcement marks the fourth and largest preliminary agreement under the CHIPS and Science Act, reflecting ongoing efforts to boost U.S. competitiveness in the global semiconductor industry.