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Funds for Intel shares allocated since Biden era revealed

Funds for Intel shares allocated during Biden era revealed

Intel announced an agreement with the administration of President Donald Trump on Friday, TechCrunch reported. The Trump administration had said it would take a 10 percent stake in Intel.

Intel stated that the government “will invest $8.9 billion,” but this is not new funding. Grants allocated during the Biden administration but not yet paid will be converted into shares.

Specifically, $5.7 billion is allocated under the CHIPS Act, and another $3.2 billion is allocated through the Secure Enclave program. It is said that this agreement may lead to legal disputes.

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News » Technology » Funds for Intel shares allocated since Biden era revealed

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