The Biden administration has finalized up to $7.86B in direct funding for Intel (NASDAQ:INTC) as part of the CHIPS and Science Act. That’s down from $8.5B funding initially proposed in March. The final total award is less than the proposed preliminary award due to a congressional requirement to use CHIPS funding to pay for the Secure Enclave

The U.S. government reportedly plans to reduce Intel Corp's (NASDAQ:INTC) $8.5 billion federal chips grant. What Happened: Intel, the largest beneficiary of CHIPS Act funding, is set to receive less than $8 billion,

The U.S. government plans to reduce Intel Corp's preliminary $8.5 billion federal chips grant to less than $8 billion, the New York Times reported on Sunday citing unnamed sources. The change took into account a $3 billion contract Intel had been offered to make chips for the Pentagon,