Intel CEO Gelsinger, 'driving force' behind Ohio plants, leaves struggling chipmaker
Gelsinger announced his turnaround plan in July 2021 and then embarked on a spending spree, starting construction on a $20-billion suite of new factories in Ohio and hiring a larger workforce at 132,000 than Intel had ever maintained even during its days as the biggest player in the chip business.
The Biden Administration announced it released $7.865 billion in funding for Intel as part of its CHIPS Incentives Program.
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Donald Trump has previously criticized the CHIPS Act and suggested he would prefer tariffs to incentivize semiconductor ...
Funding for the semiconductor giant is cut to under $8 billion, reflecting financial challenges and investment delays.
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