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Intel Corporation announced on Friday that it has amended its funding agreement under the U.S. CHIPS and Science Act with the Department of Commerce. The revision removes previously established project milestones, enabling the company to access approximately $5.7 billion in federal funding ahead of schedule.
The CHIPS Act, signed into law in 2022, aims to bolster domestic semiconductor manufacturing and reduce reliance on foreign supply chains. Intel is among several firms receiving substantial support to expand chip production capacity within the United States.
The accelerated disbursement is expected to enhance Intel’s ability to meet strategic goals and maintain momentum on its manufacturing projects. Specific details regarding the revised timeline and conditions were not disclosed.
