Economy

https://www.cnbc.com/2024/03/20/intel-awarded-up-to-8point5-billion-from-chips-act-with-loans-available.html

Intel is in line to receive as much as $8.5 billion in direct funding from the federal government as part of the CHIPS Act, the White House said on Wednesday.
The company could also receive up to $11 billion in loans tied to the legislation, which was passed in 2022.
The awards highlight the scale of the Biden administration's push to subsidize semiconductor manufacturing on U.S. soil.


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That article hit last night. Intel is trading down today about 25 cents. Apparrently this news has been expected for a long time to help Intel compete with Taiwan Semiconductor, and that's why it didn't jump the stock.