[HIGHLIGHTS] Strengthen cutting-edge chip production! U.S. government allocates $19.5 billion to subsidize Intel to build factory

U.S. government allocates $19.5 billion to subsidize Intel to build factory.

Funds will be used to renovate and expand Intel's computer chip factories in Arizona, Ohio, New Mexico and Oregon. This will be the largest amount of money invested by the U.S.-based government to subsidizing cutting-edge chip production and increase Intel's domestic semiconductor chip production in the United States. The White House said the funding will be allocated through the CHIP and Science Act.