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US government to invest $3.5 billion in Intel military tech?

Online reports say the US has approved funding to support the production of advanced semiconductors for military and intelligence programmes by Intel.

Bloomberg says the funding, which will run over three years, is for the “secure enclave” scheme and will come from the USD 39 billion set aside for use by the Chips and Science Act.

Previous stories from last November said Intel was in talks to obtain around USD 10 billion in government subsidies. This new reporting suggests part of the grant has now been approved, though there has been no official confirmation.

“We are still reviewing the effect of the appropriations text on the programme,” the Commerce Department said in a statement. “The department looks forward to continuing to work with Congress on implementing the Chips and Science Act in a manner the promotes our economic and national security.”

More than 600 companies are believed to have applied to the US government for Chips and Science Act subsidies. The US is stepping up its hand outs. It recently awarded USD 1.5 billion to contract chipmaker GlobalFoundries to build a new site in New York and expand existing operations in Vermont.

Before that it pledged USD 35 million to defence firm BAE Systems to boost its chip-making output for military aircraft and USD 162 million to Microchip Technology to improve its plants in Colorado Springs, Colorado and Gresham, Oregon. 


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April 15 2024 11:45 am V22.4.27-2
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