Intel Corp. and the U.S. government will likely finalize a deal to provide the company with $8.5 billion in CHIPS Act funding by year’s end, the Financial Times reported today.

Intel and the U.S. government are nearing a deal to finalize $8.5 billion in funding to boost domestic semiconductor production. The Financial Times reported that the agreement, which includes grants and financing,

Intel and the U.S. government will likely finalise $8.5 billion in direct funding for the chipmaker before the end of the year, the Financial Times reported on Friday, citing people familiar with the discussions.

Chipmaker is seeking ways to shore up its business although potential takeover approaches could complicate talks

Intel is on the verge of finalizing an $8.5 billion funding deal with the US government, under the CHIPS and Science Act, as part of an effort to boost domestic semiconductor manufacturing amid growing global competition,

Sources say that Intel could start receiving parts of its $8.5-billion CHIPS Act payout before the end of 2024.

Intel may get $8.5 billion from the US government by year’s end. The CHIPS Act provides for up to $400 billion in funding for semiconductor companies in the United States. It wo