Washington Curtails Intel’s Chip Grant After Stumbles

“The Biden administration plans to reduce Intel’s preliminary $8.5 billion federal CHIPS grant, a move that follows the California-based company’s investment delays and broader business struggles,” the New York Times reports.

“Intel, the biggest recipient of money under the CHIPS Act, will see its funding drop to less than $8 billion from the $8.5 billion that was announced earlier this year.”

Semafor: Biden administration rushes to distribute final chips program funding.