The Biden Administration on Monday awarded Intel up to an additional $3 billion under the CHIPS and Science Act for the "Secure Enclave" program which is designed to expand the supply of microelectronics for the U.S. Department of Defense.
Intel is building foundry plants in four states as part of its project to increase domestic semiconductor manufacturing for other suppliers.
In March, the Biden administration awarded Intel with up to $8.5 billion under the CHIPS and Science Act.
Intel CEO Pat Gelsinger, in a recent meeting with Commerce Secretary Gina Raimondo, voiced frustration over the heavy reliance that U.S. companies have on Taiwan Semiconductor Manufacturing, the world's largest contract chipmaker.
The company announced in August it would cut 15% of its workforce as part of a $10 billion cost-reduction plan.
Persons:
Biden, Pat Gelsinger, Gina Raimondo, Intel's, Chris George, —, Seema Mody, Rohan Goswami
Organizations:
Biden, U.S . Department of Defense, Intel, CNBC, Taiwan Semiconductor Manufacturing, Department of Defense, Rapid, Microelectronics, United States
Locations:
United