The US Department of Commerce announced on March 20th that the US government has reached a non binding preliminary memorandum of terms (PMT) with Intel, which will provide up to $8.5 billion in direct funding and up to $11 billion in loans under the US Chip and Science Act to support the latter's semiconductor projects in multiple states in the United States.
The statement states that Intel is expected to invest over $100 billion in the United States over the next five years, including producing cutting-edge semiconductors at large factories in Arizona and Ohio, as well as equipment research and advanced packaging projects at small factories in Oregon and New Mexico, directly creating over 10000 manufacturing jobs and nearly 20000 construction jobs.