Intel CEO Pat Gelsinger (L) and Intel Factory Manager Hugh Green (R) watch as US President Joe Biden (C) looks at a semiconductor wafer during a tour at Intel Ocotillo Campus in Chandler, Arizona, this week. The White House unveiled almost $20 billion in new grants and loans Wednesday to support Intel’s US chip-making facilities.
BRENDAN SMIALOWSKI/AFP via Getty Images
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BRENDAN SMIALOWSKI/AFP via Getty Images
Intel CEO Pat Gelsinger (L) and Intel Factory Manager Hugh Green (R) watch as US President Joe Biden (C) looks at a semiconductor wafer during a tour at Intel Ocotillo Campus in Chandler, Arizona, this week. The White House unveiled almost $20 billion in new grants and loans Wednesday to support Intel’s US chip-making facilities.
BRENDAN SMIALOWSKI/AFP via Getty Images
President Biden just awarded $8.5 billion dollars to the company Intel to help fund semiconductor factories in Arizona, Ohio, New Mexico, and Oregon.
At a visit to Intel’s campus outside Phoenix this week, President Biden said the money will help semiconductor manufacturing make a comeback in the US after 40 years.
The money for Intel comes from the $ 9 billion set aside by the 2022 CHIPS and Science Act, to build chip factories. The administration’s goal? For 20% of the world’s leading-edge semiconductor chips to be made on American soil by 2030.
The US currently makes zero of the world’s leading-edge semiconductor chips. By 2030, the Biden administration wants to make A FIFTH of them. So how will America get there?
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This episode was produced by Jonaki Mehta and Erika Ryan with audio engineering by Kwesi Lee.
It was edited by Courtney Dorning and Christopher Intagliata.
Our executive producer is Sami Yenigun.