President Biden holds up a microchip at a White House event on Feb. 24, 2021. Saul Loeb/AFP via Getty Images
Saul Loeb/AFP via Getty Images
PHOENIX — President Biden is set to announce a deal with Intel that will give the chipmaker up to $8.5 billion in grants and another $11 billion in loans to build semiconductor plants in four states — the biggest announcement to date in his push to bring chips manufacturing back to America.
The funding comes from the CHIPS and Science Act passed by Congress in 2022
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