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Intel to get $3.2 billion government grant for new $25-billion Israel chip plant

Economic Times

Economic Times · 1y ago

Intel to get $3.2 billion government grant for new $25-billion Israel chip plant

Israel's government has agreed to grant Intel Corp a $3.2 billion subsidy for its planned $25 billion chip plant in southern Israel. As part of the deal, Intel will also commit to purchasing $16.6 billion worth of goods and services from Israeli suppliers over the next decade. The expansion of the Kiryat Gat site is already underway and is expected to create several thousand jobs. The plant is set to open in 2027 and operate until 2035.

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Washington curtails Intel's chip grant after company stumbles

Economic Times

Economic Times · 9m ago

Washington curtails Intel's chip grant after company stumbles

The Biden administration plans to decrease Intel's federal CHIPS grant from $8.5 billion to less than $8 billion due to investment delays and Intel's business struggles. The change in funding also considers a $3 billion contract Intel has been offered to produce chips for the U.S. military. This decision follows Intel's decision to delay investment in chip facilities and its efforts to reduce costs. The goal of the CHIPS Act is to increase domestic chip manufacturing, but Intel's challenges have complicated its negotiations for the grant.

US considering more than $10 billion in subsidies for Intel

Economic Times

Economic Times · 1y ago

US considering more than $10 billion in subsidies for Intel

The Biden administration is reportedly in talks to provide over $10 billion in subsidies to Intel Corporation. The award package is expected to include loans and direct grants. This move is a part of the U.S. government's efforts to boost semiconductor manufacturing by supporting chip production and supply chain investments. The funding would help Intel build chip factories in Arizona, New Mexico, and Ohio, potentially making the Ohio facility the world's largest chip plant. Other companies like Micron, Samsung Electronics, and Taiwan Semiconductor Manufacturing Co. have also applied for U.S. funding for their chip factory construction projects.

Intel's $7.86 billion subsidy deal restricts sale of its manufacturing unit

Economic Times

Economic Times · 9m ago

Intel's $7.86 billion subsidy deal restricts sale of its manufacturing unit

Intel's $7.86 billion government subsidies deal comes with restrictions that limit the company's ability to sell stakes in its chipmaking unit if it becomes independent. The subsidies, part of a $39 billion initiative to revive chip manufacturing in the United States, require Intel to own at least 50.1% of its chip unit, Intel Foundry, should it be separated into a new entity. If Intel Foundry turns into a public company, Intel can only sell 35% of the unit to any one shareholder without triggering change-in-control provisions. Compliance with these restrictions is necessary for Intel to proceed with its multi-billion dollar projects and continue manufacturing advanced chips within the United States.

India Reviews $21 Bn Proposals To Fast Track Chip Manufacturing Market

Inc42 · 1y ago

India Reviews $21 Bn Proposals To Fast Track Chip Manufacturing Market

Tower Semiconductor from Israel and Tata Group from India have proposed large-scale chip manufacturing projects in the state of Gujarat, with a combined investment of $17 billion. Tower Semiconductor plans to scale up its plant to eventually produce 80,000 silicon wafers per month, while Tata Group intends to construct a chip fabrication unit and a chip-packaging plant. These proposals are part of the Indian government's efforts to boost chip manufacturing within the country, which is projected to reach a market value of $55 billion by 2026.

Intel prepares for $100 billion spending spree across four US states

Economic Times

Economic Times · 1y ago

Intel prepares for $100 billion spending spree across four US states

Intel is set to spend $100 billion on building and expanding factories across four U.S. states, with the aim of creating the world's largest AI chip manufacturing site near Columbus, Ohio. The company has secured $19.5 billion in federal grants and loans, and hopes to secure an additional $25 billion in tax breaks. The funding will go towards revamping sites in New Mexico and Oregon, expanding operations in Arizona, and purchasing chipmaking tools. Intel's CEO, Pat Gelsinger, believes government support is crucial for the company's plan to regain its position as a leading semiconductor manufacturer.

US awards $1.5 billion to GlobalFoundries for semiconductor production

Economic Times

Economic Times · 1y ago

US awards $1.5 billion to GlobalFoundries for semiconductor production

The US government has granted $1.5 billion to GlobalFoundries, the world's third-largest contract chip manufacturer, as part of a $39 billion fund aimed at boosting domestic chip production. The funding will be used to construct a new semiconductor production facility in Malta, New York, and expand existing operations in Vermont. The grant will be accompanied by $1.6 billion in loans, with the total investment expected to reach $12.5 billion. The chips produced by GlobalFoundries are essential for national security purposes and are used in satellite communications, the defense industry, and automotive systems.

US considering more than $10 billion in subsidies for Intel

Livemint

Livemint · 1y ago

US considering more than $10 billion in subsidies for Intel

The US government is reportedly in talks to provide more than $10 billion in subsidies to Intel Corp. The subsidies are expected to be in the form of loans and direct grants. The funding comes from the CHIPS Act program, aimed at boosting semiconductor manufacturing and supply chain investments. Intel plans to use the funds to build chip factories in Arizona, New Mexico, and Ohio. Other companies such as Micron, Samsung Electronics, and Taiwan Semiconductor Manufacturing Co have also applied for US funding for their chip factories.

US considering more than $10 billion in subsidies for Intel as part of CHIPS act to secure domestic semiconductor manufacturing

Techradar

Techradar · 1y ago

US considering more than $10 billion in subsidies for Intel as part of CHIPS act to secure domestic semiconductor manufacturing

The US Government is considering providing $10 billion worth of subsidies to Intel to secure domestic semiconductor manufacturing. Currently, most semiconductors used in the US are manufactured in areas vulnerable to Chinese interference. The CHIPS Act has allocated $53 billion to secure domestic semiconductor production, with Intel planning to use potential subsidies to expand manufacturing in Arizona and New Mexico. Intel is also planning to construct a chip factory in Ohio, which will be the world's largest, but completion may be delayed until 2026. This move has drawn criticism for not diversifying semiconductor suppliers sufficiently.

Samsung to get $6-7 billion in chip subsidy next week for Texas expansion

Economic Times

Economic Times · 1y ago

Samsung to get $6-7 billion in chip subsidy next week for Texas expansion

The Biden administration is set to award a subsidy of $6-7 billion to Samsung to expand chip output in Texas. The funds will go towards constructing four facilities in Taylor, including a $17 billion chipmaking plant. This investment will double Samsung's U.S. investment to over $44 billion. The aim is to boost domestic chip production and reduce reliance on China and Taiwan. The subsidy follows similar grants awarded to TSMC and Intel for chip production expansion in Arizona. The announcement is expected to be made by Commerce Department Secretary Gina Raimondo.

Intel delays $28 billion Ohio chip factories to 2030

Economic Times

Economic Times · 6m ago

Intel delays $28 billion Ohio chip factories to 2030

Intel announced delays in its $28 billion Ohio chip factories, with the first plant now expected to finish by 2030, five years later than planned. This decision stems from Intel's need to align operations with market demand and manage finances responsibly amid efforts to cut costs and restore its standing in the chip manufacturing industry. Consequently, capital expenditures have been reduced, affecting project timelines. The subsequent Ohio factory is projected for 2032 operation commencement.

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