The U.S. government is likely to invest $3.5B in Intel to allow the company to make advanced semiconductors for military and intelligence programs, Bloomberg News reported citing congressional aides. The funds are now in a spending bill the House passed on Wednesday, would set Intel as a commanding local player in the defense arena. The financing would span across three years, is for the “secure enclave” program. and this is part of a larger $39B Chips and Science Act grant pool aimed at boosting semiconductor manufacturing in the U.S.
In November 2023, it was reported that Intel was the leading contender to potentially receive billions of dollars in U.S. government funding for secure facilities, which may cost $3B to $4B. The company is expected to get a total Chips Act incentive of over $10B, which includes both grants and loans, the report noted.
Jeffrey Newman is a whistleblower lawyer whose firm represents whistleblowers in healthcare fraud under the False Claims Act (FCA) also whistleblower claims brought under the SEC whistleblower program for violations of securities regulations including insider trading cases. He also handles cases involving evasion of US sanctions against China, Iran and Russia and other sanctioned entities and he can be reached at Jeff@JeffNewmanLaw.com or at 617-823-3217
