Intel is reportedly in the final stages of securing an US$8 billion grant from the CHIPS Act, according to insider sources.

These funds aim to support the expansion of Intel’s semiconductor manufacturing facilities.

The finalization of agreements by the United States Department of Commerce is expected in the coming weeks.

This potential grant follows a US$3 billion contract with the Department of Defense in September for chip production for military purposes.

However, Intel has faced difficulties in expanding its foundry business.

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