Biden to tout government investing $8.5 billion in Intel's computer chip plants in four states
The Biden administration has reached an agreement to provide Intel with up to $8.5 billion in direct funding and $11 billion in loans for computer chip plants in Arizona, Ohio, New Mexico and Oregon
WASHINGTON (AP) — The Biden administration has reached an agreement to provide Intel with up to $8.5 billion in direct funding and $11 billion in loans for computer chip plants in Arizona, Ohio, New Mexico and Oregon.
President Joe Biden plans to talk up the investment on Wednesday as he visits Intel's campus in Chandler, Arizona, which could be a decisive swing state in November’s election. He has often said that not enough voters know about his economic policies and suggested that more would support him if they did know.
“Failure is not an option — leading-edge chips are the core of our innovation system, especially when it comes to advances in artificial intelligence and our military systems,” Raimondo said on a call with reporters. “We can’t just design chips. We have to make them in America.”
