Intel plans US building spree thanks to billions in federal chip subsidies

Semiconductor giant Intel on Wednesday announced that it will receive about $20 billion in federal subsidies under the CHIPS and Science Act to advance semiconductor manufacturing projects in four U.S. states.

The Commerce Department has proposed up to $8.5 billion in direct funding for semiconductor projects in Arizona, New Mexico, Ohio and Oregon. The Treasury Department also awarded up to $11 billion in federal loans and provided Intel with an investment tax credit (ITC) of up to 25% on up to $100 billion in qualified in