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cailian press, september 14 (editor zhou ziyi) according to media reports on friday (september 13), citing people familiar with the matter, chipmaker intel has reached a binding agreement with us officials, saying that the company has officially qualified for up to us$3.5 billion in federal grants to produce semiconductors for the us pentagon.

the project, called secure enclave, will produce advanced chips for the military and intelligence services and will reportedly involve multiple states in the u.s., including an intel manufacturing plant in arizona.

the grant could be announced as early as next week, the people said.

chips act funding

it is reported that the funding for the "secure enclave" project comes from the chips and science act (hereinafter referred to as the "chips act") grant project managed by the us department of commerce.

once the project was reported, intel's stock price began to rise in the late trading hours on friday, closing up 1.55% at $19.66 that day. as of friday's close, the stock has fallen 61% so far this year.

in march of this year, according to the chip act signed by president biden, the u.s. department of commerce announced that the government decided to provide intel with a grant of $8.5 billion and a loan of $11 billion. the bill aims to revitalize the u.s. semiconductor manufacturing industry.

intel, for its part, is negotiating terms of a broader incentive package that would extend government support to factories in arizona, ohio, new mexico and oregon.