Intel gets up to $3 billion from US for national security related chip production

(Reuters) -The Biden Administration on Monday awarded Intel Corp. up to $3 billion from the CHIPS and Science Act to develop a “Secure Enclave” for microelectronics, which are a critical component to a wide range of weapon systems and other national security products. Shares of Intel were 4% after the announcement.

The award pushes forward the administration’s commitment to re-shore semiconductor manufacturing and advance cutting-edge technology research and development. The administration’s focus on the Secure Enclave reflects a broader strategy to enhance national security through targeted investments in critical semiconductor manufacturing and technology development. (Reporting by Juby Babu in Mexico City and Mike Stone in Washington; Editing by Alan Barona) Disclaimer: This report is auto generated from the Reuters news service.



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