The US government spent $19.5 billion to help Intel produce chips
Mar 22, 2024
Washington [US], March 22: According to Reuters, part of the funding will be used by Intel to build two new factories and modernize an existing factory. "We will bring advanced semiconductor manufacturing back to America after 40 years," Mr. Biden said during a visit to Intel's facility in Arizona.
US Secretary of Commerce Gina Raimondo said this is one of the largest investments in semiconductor manufacturing in the US. Washington hopes the US advanced chip market share will increase to 20% by 2030 through the subsidy program, from 0% currently.
Source: Thanh Nien Newspaper
