Intel's $7.86 Billion CHIPS Act Grant Forbids Selling Its Foundry Business

When Intel announced the completion of its $7.86 billion CHIPS Act grant from the Biden-Harris administration on Tuesday, we assumed some special terms were tied to the grant. Intel is essentially mak

ing a law-abiding promise to the US government that it will not sell its stake in the Intel Foundry unit under any circumstances, even if it manages to become an independent entity. This ensures that  ...