Factbox-Intel latest to get US funds for chips, more grants and loans planned


© Reuters. FILE PHOTO: A slogan related to Artificial Intelligence (AI) is displayed on a screen in Intel pavilion, during the 54th annual meeting of the World Economic Forum in Davos, Switzerland, January 16, 2024. REUTERS/Denis Balibouse/File Photo

WASHINGTON (Reuters) – Intel Corp (NASDAQ:) on Wednesday was the latest semiconductor company to be awarded billions of dollars in grants and loans from the U.S. government in President Joe Biden’s effort to supercharge domestic chip output.

Below is a list of the awards made so far and those expected in the weeks and months ahead.

INTEL

The Biden administration said it has inked a preliminary agreement with Intel for $8.5 billion in grants and up to $11 billion in loans for plants and upgrades to manufacturing sites in Arizona, Ohio, Oregon and New Mexico.

GLOBALFOUNDRIES

In February, the Biden administration awarded $1.5 billion to GlobalFoundries (NASDAQ:), the world’s third-largest contract chipmaker, to build a semiconductor production facility in Malta, New York, and expand existing operations there and in Burlington (NYSE:), Vermont.

MICROCHIP TECHNOLOGY

In January, Commerce announced Microchip Technology (NASDAQ:) would get $162 million in government grants, allowing the company to triple production of mature-node semiconductor chips and microcontroller units at two U.S. factories.

BAE

The U.S. Commerce Department in December said it planned to award $35 million to BAE Systems (LON:) to quadruple production in New Hampshire for key semiconductor chips used in F-35 fighter jets and commercial satellites.

FUTURE AWARDS

Awards for South Korea’s Samsung (KS:) and Taiwan’s Taiwan Semiconductor Manufacturing Co and are expected in the coming weeks and months.

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