Reported 22 days ago
Intel Corporation announced that it is set to receive up to $3 billion in U.S. government funding to produce chips for military purposes, aiming to enhance national security. The funding is part of a broader effort to reduce reliance on overseas suppliers, with Intel shares rising 6.4% following the announcement. This initiative is distinct from an additional $8.5 billion grant related to the 2022 Chips and Science Act, which supports Intel's commercial operations across the U.S.
Source: YAHOO