Intel Receives $5.7 Billion Funding from US Government for Stake Acquisition

Intel has received a significant $5.7 billion funding boost from the US government as part of a deal that grants the nation a 10% stake in the company. The funds, channeled through the CHIPS and Science Act, will support Intel’s expansion into its foundry operations. David Zinsner, Intel’s CFO, confirmed receipt of the grant on Wednesday night and stated it has been reflected on their balance sheet. This funding is part of a broader agreement aimed at strengthening US leadership in semiconductors.