SEO White House Proposes Up to $8.5 Billion for Intel’s Domestic Chip Manufacturing
The White House announces an agreement with the Department of Commerce to provide up to $8.5 billion to support Intel’s domestic chip manufacturing efforts.
Boosting US Chip Production Amid Geopolitical Challenges
The CHIPS and Science Act, passed in August 2022, aims to address global supply chain challenges and tensions between the United States and China. By increasing domestic chip manufacturing, the act seeks to reduce reliance on foreign suppliers, particularly in Asia.
Intel, a key player in the effort, anticipates investing 10 times the initial $10 billion in facilities across multiple states, creating thousands of jobs. However, critics argue that these measures may not close the gap between U.S. manufacturing and international competitors.
