The United States will allocate $7.86 billion to Intel for the development of the semiconductor industry

The administration of President Biden has approved the allocation of large funding to Intel in the amount of up to $7.86 billion. These funds, provided for by the Chips and Science Act, are aimed at supporting the development of the American semiconductor industry. The investment will be used to implement Intel's already planned production projects in Arizona, New Mexico, Ohio and Oregon.

This funding complements Intel's previous $3 billion contract, which was awarded to the U.S. government to produce advanced semiconductors for defense needs.

It is important to note that Intel has been investing in the development of its own production facilities in the United States for a long time. In addition to the current projects, the company planned to invest more than $100 billion in expanding semiconductor production in the country.

Intel had previously predicted that these investments, including both publicly funded and private ones, would create more than 10,000 jobs in the company itself, about 20,000 jobs in construction, and more than 50,000 jobs at suppliers and in related industries.

Despite these ambitious plans, Intel's capitalization has decreased by more than 50% since the beginning of 2024.