Intel’s plans to cut jobs, despite receiving a $20 billion U.S. Chips Act subsidy, have raised concerns from Senator Rick Scott. The senator questioned the impact of these layoffs on Intel’s planned semiconductor manufacturing investments. The news comes after Intel reported a dismal second-quarter earnings and announced a $10 billion cost-reduction plan, including headcount cuts.
Texas Instruments has secured a preliminary agreement for up to $1.6 billion in CHIPS and Science Act funding to support the construction of three new 300mm semiconductor wafer fabs in Texas and Utah. This investment will create over 2,000 new jobs at Texas Instruments and thousands of indirect jobs in supporting industries.
Texas Instruments (TXN) is set to receive up to $1.6 billion in direct funding from the U.S. Department of Commerce through the CHIPS and Science Act, supporting the construction of three 300mm semiconductor wafer fabs in Texas and Utah. This investment will contribute to the company’s broader manufacturing expansion and generate thousands of new jobs.
President Joe Biden has formally announced that Micron Technology will receive $6.1 billion in federal funding for its $100 billion microchip plant in Central New York. This funding is part of the 2022 CHIPS Act, which Biden promoted as a way to bring semiconductor manufacturing back to America. Micron is the fourth big chipmaker to get CHIPS money to build leading edge chips in the U.S.
