US President Joe Biden granted Intel almost US$20 billion in subsidies and loans this Wednesday (20), boosting Intel’s domestic production of semiconductor chips in the largest disbursement for the United States government to produce top-notch chips.
With this, Biden announced the preliminary agreement of US$8.5 billion in subsidies and up to US$11 billion in loans for Intel in the state of Arizona, where part of the financing will be used to build two new factories and modernize an existing one.
Biden said the pandemic had driven an acute shortage of semiconductors, which forced factory closures and rising prices, and that he has since been determined to invest in the United States.
“We will allow advanced semiconductor manufacturing to return here in America after 40 years,” said the US president.
In addition, Biden also attacked his opponent Donald Trump, saying that, under the former Republican president’s policies, companies transferred jobs abroad and that Trump’s tax cuts benefited large corporations.
