Biden administration awards Intel up to $3 billion under the Chips Act
INTCIntel(INTC) CNBC·2024-09-17 04:52

The Biden Administration on Monday awarded Intel up to an additional $3 billion under the CHIPS and Science Act for the "Secure Enclave" program which is designed to expand the supply of microelectronics for the U.S. Department of Defense.Shares of Intel jumped 8% in extended trading after the company announced it's creating a separate entity for its foundry business, which could allow it to raise outside funding.Intel is building foundry plants in four states as part of its project to increase domestic sem ...