The Pentagon has withdrawn its plan to allocate up to $2.5 billion in funding for a chip grant to Intel Corporation, a decision that led to Intel's stock ($INTC) falling in after-hours trading. This move shifts the responsibility to the Commerce Department to address the funding shortfall, with lawmakers directing the use of Chips Act funds to cover the gap. The original plan was part of a broader initiative to support the manufacturing of advanced defense and intelligence-related semiconductors, but its cancellation has introduced complications and sparked discussions on the future of semiconductor manufacturing support in the United States.
So much for secure chips for the US military -- Pentagon cancels $2.5 bn subsidy to Intel. https://t.co/0tiimeB61i
"Pentagon Scraps Plan to Spend $2.5 Billion on Intel Grant" https://t.co/eHvvgh4ffO "The shortfall is disrupting plans to distribute money from the Chips Act" https://t.co/YRYYNz4SxO
This went unreported in major US media -- it's the most important thing happening. Even with CHIPS Act subsidies, we can't get companies who know how to make high-end chips to manufacture in the US -- lack of manpower and infrastructure. There should be wailing and gnashing of…
The Pentagon will not provide US$2.5 billion of a $3.5 billion chip grant for Intel to manufacture advanced defense and intelligence-related semiconductors, media report, and lawmakers told the Commerce Department to cover the amount with Chips Act funds, instead. Originally,…
Pentagon Scraps $2.5 Billion Grant To Intel https://t.co/NGeGHjkW9J
Pentagon Scraps Plan to Spend $2.5Bn on Intel Chip Grant https://t.co/OlaiKbpljV I don't think $INTC can get this to the goal line. Better to help Samsung or Taiwan Semiconductor build such a plant in America.
BREAKING: Pentagon cancels $2.5 billion plan to invest in Intel chip grant, according to Bloomberg report. #Pentagon #Intel #news
Sources: the Pentagon abandoned its plan to spend as much as $2.5B on a chip grant to Intel, putting the onus on the Commerce Dept. to make up for the shortfall (Bloomberg) https://t.co/610KCxBflx 📫 Subscribe: https://t.co/OyWeKSRpIM https://t.co/rmvsfUqAdo
$INTC | Pentagon Scraps Plan To Spend $2.5 Bln On Intel Chip Grant - @business https://t.co/yyMdCqfJVV
The Pentagon pulled out of a plan to spend as much as $2.5 billion on a chip grant to Intel, people familiar with the situation said, putting the onus on another federal agency — the Commerce Department — to make up for the shortfall. https://t.co/aZa0ejNtuQ
SCOOP: The Pentagon pulled out of a plan to spend as much as $2.5 billion on a chip grant to Intel Lawmakers then directed Commerce to make up for the shortfall using Chips Act $$ That’s created some… complications More details in my story w/ @ianmking https://t.co/xAC6wHPt9Q
The 🇺🇸 Pentagon has reportedly pulled out of a plan to spend as much as $2.5 billion on a chip grant to Intel $INTC - Bloomberg
Bloomberg: The Pentagon pulled out of a plan to spend as much as $2.5 billion on a chip grant to Intel Corp., people familiar with the situation said, putting the onus on another federal agency — the Commerce Department — to make up for the shortfall. https://t.co/jG1COhssw6
$INTC down in after hours on report that the Pentagon has pulled out of a plan to spend as much as $2.5 billion on a chip grant to Intel.
PENTAGON SCRAPS PLAN TO SPEND $2.5B ON INTEL DEFENSE GRANT Will spend $2.5 trillion instead?
An Italian minister says Singapore-based Silicon Box plans to invest €3.2B to build a chip factory; Silicon Box raised $200M in January 2024 at a $1B+ valuation (@flaviarotondi / Bloomberg) https://t.co/0VtBTvmrvc 📫 Subscribe: https://t.co/OyWeKSRpIM https://t.co/G6kOkr4eG7
Semiconductors startup Silicon Box will invest $3.5 billion in Italy to build a chip factory in the north of the country, Industry Minister Adolfo Urso says https://t.co/rqqIbgGb0a
⚠️ ITALY FINALISING $3.3 BILLION SILICON BOX PLANT DEAL, SOURCE SAYS Full Story → https://t.co/2RYtvNnqOS Italy is finalising the terms of a state-backed deal with semiconductor firm Silicon Box worth around 3 billion euros ($3.3 billion) to build an industrial site in the…