US President to announce Intel chips grant in Arizona

President Joe Biden and Commerce Secretary Gina Raimondo are set to announce a substantial grant for Intel in Arizona next week, highlighting America’s push to bolster domestic semiconductor production. The multi-billion-dollar award, part of the 2022 CHIPS and Science Act, aims to reduce reliance on foreign chip manufacturers.

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The Biden administration plans to announce a significant grant for Intel in Arizona as part of its broader strategy to strengthen domestic semiconductor production. This initiative, aligned with the objectives of the 2022 CHIPS and Science Act, underscores the administration’s commitment to revitalising the US semiconductor industry.

With concerns mounting over the nation’s dependence on foreign semiconductor manufacturers, particularly in China and Taiwan, this grant signifies a proactive step towards bolstering America’s technological resilience and competitiveness. The upcoming grant for Intel, along with investments in other semiconductor companies like GlobalFoundries and Microchip Technology, aims to bolster the domestic semiconductor industry.

By supporting expansion and innovation, these investments stimulate job growth, reduce reliance on overseas manufacturing, and enhance technological sovereignty. Intel’s expansion plans in Arizona and Ohio align with the administration’s goal of securing America’s semiconductor supply chain and positioning the US as a global leader in semiconductor manufacturing and innovation.