November 26, 2024 – 2:04 AM PST
WASHINGTON (Reuters) – The U.S. Commerce Department said Tuesday it was finalizing a $7.86 billion government subsidy for Intel (INTC.O), down from $8.5 billion announced in March after the California-based chips maker won a separate $3 billion award from the Pentagon.
Advertisement
The award will support nearly $90 billion in manufacturing projects in Arizona, New Mexico, Ohio, and Oregon.
“That means American-designed chips being manufactured and packaged by American workers in the United States by an American company for the first time in a very long time,” Commerce Secretary Gina Raimondo said.
Intel has already met some initial project milestones and will…
