WASHINGTON/TAIPEI -- Intel will receive up to $8.5 billion in grants and $11 billion in loans from the U.S. government to produce cutting-edge semiconductors in the biggest deployment of funds under the CHIPS and Science Act.
President Joe Biden traveled to Chandler, Arizona, the site of one of Intel’s new plants, on Wednesday to officially announce the decision. "This is going to transform the country in a way you don't even understand yet," he said.
