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US Department of Commerce today certain It awarded $7.865 billion to chip giant Intel under the USA Chips and Science Act, a federal law signed into law by President Joe Biden in 2022 to boost domestic semiconductor manufacturing.
That number is significantly lower than the highest possible number announced in March, when the White House said it had reached an agreement with the Commerce Department to give Intel a grant of up to $8.5 billion.
This is a breaking news story, check back for updates.
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