On March 20, 2024, Intel Corporation and the U.S. Department of Commerce announced up to $8.5 billion in direct funding for Intel through the CHIPS and Science Act. CHIPS Act funding aims to increase U.S. semiconductor manufacturing and research and development capabilities, especially in leading-edge semiconductors.
“Today is a defining moment for the U.S. and Intel as we work to power the next great chapter of American semiconductor innovation,” said Intel CEO Pat Gelsinger. “AI is supercharging the digital revolution and everything digital needs semiconductors. CHIPS Act support will help to ensure that Intel and the U.S. stay at the forefront of the AI era as we build a resilient and sustainable semiconductor supply chain to power our nation’s future.”
“This CHIPS funding represents an important step in our nation’s effort to substantially increase domestic manufacturing of computer chips,” said New Albany Mayor Sloan Spalding. “This is a national defense issue as much as it is an economic issue. American military hardware, along with the computers and electronic goods that fuel our economy, should be powered by American-made chips. Here in Ohio and New Albany, specifically, we are excited about the future with Intel locating here and their commitment to build the Silicon Heartland.”
