Intel has posted big losses since the grant was announced, leading to spending cuts, mass layoffs and widespread doubts on its expensive expansion plan.
PORTLAND, Ore. — This story is courtesy of the Portland Business Journal, a KGW news partner. Read their story here.
The Biden administration is set to trim Intel’s preliminary $8.5 billion federal CHIPS Act award to “less than $8 billion,” according to a New York Times report.
Intel (Nasdaq: INTC) has posted big losses since the grant was announced in March, leading to spending cuts, mass layoffs and widespread doubt about its ability to carry out an expensive revitalization and expansion plan
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