Intel stands to win $3.5 billion to produce chips for military

The United States government is poised to invest US$3.5 billion in Intel so the chipmaker can produce advanced semiconductors for military and intelligence programs, according to congressional aides, Report informs, citing The Business Times.

The money, tucked into a fast-moving spending bill the House passed on Wednesday (Mar 6), would establish Intel as a dominant domestic player in the lucrative defence market.

The funding, which would run over three years, is for the “secure enclave” program. It comes from a broader US$39 billion Chips and Science Act grant pool that’s designed to convince chipmakers to produce semiconductors in the US. More than 600 companies have expressed interest in the funding.