Finally, some good news is coming from Intel, after the processor manufacturer’s worst autumn and late summer season so far: the US Department of Commerce announced that it has finalized the details of the subsidy package, as a result of which the company will not return about 7.86 billion dollars you can get reimbursable support.
Although this amount is slightly less than the 8.5 billion dollar package announced in March, Intel can compensate for the fact that it was able to win the three billion dollar tender of the Ministry of Defense in September – the Ministry of Commerce subsequently corrected the amount originally determined.
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Intel has already met some of the conditions necessary to receive the support, so it can draw at least one billion dollars from the fund in December – the ministry’s spokesperson told the press, stressing that the reduction of the total support fund has nothing to do with Intel’s particularly poor results in recent quarters , and as part of cost-cutting measures, about 15,000 employees were laid off.
The $7.86 billion benefit is still the largest amount of subsidy that was awarded to a semiconductor industry player in accordance with the CHIPS Act, which was adopted in 2022 and created to boost American semiconductor production, with a total budget of $52.7 billion. The Pentagon’s three-billion-dollar tender was also allocated from this framework, which means that Intel received a total of 10.86 billion dollars in support, or will receive it if the conditions are met.
The company is simultaneously building several factories in the United States, in Arizona, New Mexico, Ohio and Oregon, the total investment cost of which is close to 90 billion dollars. In March, the company was offered an investment stimulus loan worth 11 billion dollars, with a discounted interest rate, but the management decided not to call it, as the conditions proved to be less attractive than expected for Intel’s shareholders, and did not fit with long-term growth. into strategy.
Source: www.hwsw.hu
