The Biden administration said it is awarding Intel nearly $20 billion in grants and loans on Wednesday, supercharging the company's domestic semiconductor...
WASHINGTON - The Biden administration said it is awarding Intel nearly $20 billion in grants and loans on Wednesday, supercharging the company's domestic semiconductor chip output and marking the government's largest outlay to subsidize leading-edge chip production.
The goal is to reduce reliance on China and Taiwan, as the share of global semiconductor manufacturing capacity in the U.S. has fallen from 37% in 1990 to 12% in 2020, according to the Semiconductor Industry Association. Commerce is dedicating $28 billion for government subsidies for chips manufacturing - although it has more than $70 billion in requests - and also has $75 billion in lending authority.
Last month, the Biden administration awarded $1.5 billion to GlobalFoundries, the world's third-largest contract chipmaker, to build a semiconductor production facility in Malta, New York, and expand existing operations there and in Burlington, Vermont. Former President Donald Trump made a series of false claims on Tuesday while railing against the judge who issued the $454 million civil fraud judgment against him.Fox NewsPeter Navarro has apparently lost Fox News.Reporting to federal prison on Tuesday after his last-ditch appeal to the Supreme Court was denied, the former Trump White House adviser spoke to reporters before starting his four-month jail sentence for contempt of Congress.
The judge for Trump's Manhattan felony trial is also allowing Stormy Daniels, Karen McDougal, and Michael Cohen to testify.Poland's deputy prime minister said Poland and Germany will activate an armored capability coalition for Ukraine, with main battle tanks a key focus.
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