Bloomberg Technology
Intel's Chips Grant, California Vs. Tesla
Nov 26, 2024
Discover how Intel's massive $7.9 billion grant will enhance U.S. chip production and its implications for the tech landscape. Learn about California's controversial EV incentives that exclude Tesla and the pushback from social media firms against new Australian regulations targeting teen usage. The podcast also explores investment strategies beyond tech, trade tensions affecting companies, and the evolving automotive market focused on affordability amid economic challenges.
42:49
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Quick takeaways
- Intel's $7.9 billion grant from the Biden Administration aims to strengthen U.S. chip production, yet faces execution hurdles and delays.
- California's proposed EV incentives could exclude Tesla, fostering competition but creating backlash amid shifts in federal support policies.
Deep dives
Intel Secures Major Federal Grant
Intel has secured $7.9 billion in federal grants from the Biden administration to support its chip production projects in four U.S. states, including Arizona, New Mexico, and Oregon. This grant is the largest ever subsidy from the CHIPS Act, aimed at bolstering domestic semiconductor manufacturing. Despite this substantial funding, Intel's execution timeline may be hindered as the company must meet certain benchmarks before receiving the funds, delaying immediate financial relief. Intel's chief, Pat Gelsinger, expressed frustration over the slow disbursement process, highlighting the complexities involved in qualifying for the funds and the company's ongoing financial troubles.
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