Intel will be able to get the first subsidies under the Chip Act in the United States no sooner than 2023

Intel will be able to get the first subsidies under the Chip Act in the United States no sooner than

Formally approved by the U.S. Congress, the CHIPS and Science Act has yet to be signed by President Joseph Biden, but potential recipients of subsidies for the construction of chip production facilities throughout the country are already expressing their satisfaction with the adoption of the Act. Intel explains that part of the $52 billion government subsidies can be claimed at the earliest next year.

At the last quarterly report conference, Intel was forced to admit that it would reduce capital spending this year from $27 billion to $23 billion, and some of the savings would be due to the delay in the purchase of technological equipment for the company's new businesses. The financial director David Zinsner explained that no public subsidies had been included in the company's budget. The current procedure for allocating public funds, according to the company's management, would not be available until 2023, and how much of the subsidies could be claimed by Intel while it was too difficult to say. The company's representatives would be able to update the information in this regard a little later.

Director-General Patrick Gelsinger, who personally lobbyed for a bill to subsidize the construction of chip production facilities in the United States, responded very emotionally to the news that the U.S. Congress had approved the package of laws. He said that this was the most important part of the industrial policy agreed upon by American legislators after World War II. Intel, these subsidies would clearly benefit, as Patrick Gelsinger believes. He noted that in Europe companies are also able to find sources of financing for local projects, but that the government subsidies to Intel are not going to be limited, so they expect to attract funds from some partners. Their names are not yet disclosed.

It will be recalled that Intel has already allocated $20 billion for the construction of new enterprises in Arizona, a similar amount should be spent on the development of a new cluster in Ohio, where by 2025 the production of semi-conductor products on Intel 18A technology will be available not only for the company ' s own use, but also on behalf of outside clients. Intel also expects to spend in the coming years on the construction of new enterprises and research centres throughout Europe. Of these, Y17 billion is planned for the creation of two large chip production facilities in Germany, in all of which the company would like to cover up to 30% of its capital expenditure through government subsidies.