The Biden Administration announced it released $7.865 billion in funding for Intel as part of its CHIPS Incentives Program.

Central Ohio business leaders are unfazed by the apparent wiggle room in Intel's Chips Act grant agreement on when the fabs open.

Computer chip manufacturer Intel has faced setbacks with its “Silicon Heartland” fab currently under construction outside New Albany, Ohio. But after protracted negotiations, $7.8 billion in federal grants are beginning to flow to Intel projects around the country.

Ohio's Intel plant is finally receiving its long-awaited $1.5 billion in federal funding, ending the two-year-long stalemate from the company's groundbreaking ceremony.

After delays and lobbying from business groups around the country, the U.S. Department of Commerce and Intel announced a deal Tuesday morning to release nearly $8 billion in direct CHIPS Act funding.

The U.S. Department of Commerce announced that it will make a final award to Intel Corp. of up to nearly $7.87 billion in direct funding under the CHIPS and Science Act, the largest such grant to any company but slightly below the preliminary $8.5 billion that had been announced earlier.

On Tuesday, the Biden-Harris administration finalized a CHIPS award of up to $7.865 billion to help fund the expansion of Intel's commercial fabs in the US. By the end of the decade, these fabs are intended to decrease reliance on foreign adversaries and fill substantial gaps in America's domestic semiconductor supply chain.

More than two years since the signing of the CHIPs Act, funding is finally flowing to some of the mega-projects that the semiconductor bill intended to support.