Reported about 3 hours ago
The Biden administration is set to reduce part of Intel's $8.5 billion federal funding for semiconductor plants due to the company's additional $3 billion military contract. This decision is not tied to Intel's financial performance but rather a broader strategy to bolster U.S. semiconductor manufacturing amid global supply concerns. The reduction comes as Intel faces competition and job cuts while the administration prioritizes investments in domestic chip production.
Source: YAHOO