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Intel, Brookfield to invest up to $30 bn in Arizona chip factories

The move comes after US President Joe Biden earlier this month signed the CHIPS and Science Act into law, which included provision of $52.7 bn in subsidies for U. semiconductor production and research

Intel
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The investment is part of a deal between Intel and Brookfield in February this year to explore project finance options to help fund new Intel manufacturing sites.

Reuters
Intel Corp and Canada's Brookfield Asset Management on Tuesday agreed to jointly fund up to $30 billion for the U.S. chipmaker's leading-edge chip factories in Arizona.
 
The move comes after U.S. President Joe Biden earlier this month signed the CHIPS and Science Act into law, which included provision of $52.7 billion in subsidies for U.S. semiconductor production and research.
 
Brookfield's infrastructure affiliate will invest up to $15 billion for a 49% stake in the expansion project, while Intel will retain majority ownership and operating control of the two chip factories meant to make advanced chips in Chandler, Arizona.
 
Intel finance

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First Published: Aug 23 2022 | 7:43 PM IST

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