Intel and US to Finalize $8.5 Billion in Funding by Year-End, Financial Times Reports

Sep 27, 2024, 04:15 AM

Intel and the US government are on track to finalize $8.5 billion in direct funding for the chipmaker before the end of the year. The preliminary terms of the funding agreement were disclosed in March. This funding is crucial for Intel, which is grappling with $53 billion of debt and relies on subsidies and private financing. The Financial Times reports that this would be the largest single subsidy package awarded to the company.