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Intel Adjusts Chip Act Funding Arrangement, Secures $5.7 Billion Cash Advance for Enhanced Flexibility
1 week ago /
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Author：小编
Intel has revised its funding agreement with the U.S. Department of Commerce under the Chip Act, doing away with project milestone prerequisites and securing an upfront cash support of approximately $5.7 billion. While the new accord retains certain restrictive clauses, precluding the use of funds for dividends, share buybacks, and expansion in specified countries, it also grants the U.S. government a 9.9% equity stake in Intel, with the potential for additional share subscriptions. To date, Intel has invested at least $7.87 billion, receiving a total of $11.1 billion in government funding support. The company emphasized that the government's equity stake serves as an incentive to accelerate the growth of its foundry business.
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