Intel’s Chips Act money looking safe

Intel’s Chips Act funding may be safe under the upcoming change in the administration in  the US reports a contributor to SemiWiki

“Intel CEO Pat Gelsinger (pictured) told employees Friday that he has texted with Vice President-elect JD Vance since the election and that Gelsinger is optimistic that the incoming Trump administration will support efforts to boost the domestic semiconductor industry,” says Semiwiki,  “while Gelsinger didn’t disclose anything about the exchange with Vance, he said Intel is “starting to lean in on what will be necessary to be successful with the new administration.”

Intel is due $19 billion in grants and loans under the Act and Gelsinger has complained he’s spent $30 billion to restore domestic competitiveness but received nothing back.

Before the election, President Trump expressed scepticism about the value of the Chips Act saying that its objectives could have  been achieved by tariffs.



See also: Trump and Intel

David Manners

David Manners

David Manners has more than forty-years experience writing about the electronics industry, its major trends and leading players. As well as writing business, components and research news, he is the author of the site's most popular blog, Mannerisms. This features series of posts such as Fables, Markets, Shenanigans, and Memory Lanes, across a wide range of topics.

Comments

No comments

  1. One of the reasons Intel was given that money was to create jobs in the US. They just laid off the majority of the 15K from the US and created/didn’t touch same positions in other global locations.
    Not happy my taxpayer $$ is used like this!!
    (FYI- think you need to use spell check!)

Leave a Reply

Your email address will not be published. Required fields are marked *

*