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Rumors from last week pointed to a possible $3.5 billion government defense-related investment—Intel was linked to this very lucrative semiconductor supply contract. Insiders posited that the US Department of Commerce was readying a rough $1 billion investment, while the Pentagon prepared around $2.5 billion. The latter has scrapped those plans, according to anonymous sources—Bloomberg believes that this: "move threatens to limit the total amount that Intel has been expecting to get in federal funding, setting up a contentious situation." The publication's moles have requested complete anonymity, due to the secretive nature of policy negotiations.
The US Department of Commerce deliberates over the nation's CHIPS Act—this fund could be utilized to "make up for the shortfall," following the Pentagon's reported last minute course change. The Department of Commerce could be forced to foot the entire bill—of $3.5 billion—if Intel's services are secured. Negotiations over a so-called "Secure Enclave" project have been ongoing since last year, according to insiders. It is possible that the "fast-moving" military spending bill set off alarms at the Pentagon—the Department of Defense's reasonings were not revealed by Bloomberg's investigation. Several media outlets have requested official comments from the two arms of government. Yesterday, Intel shares fell by 3%—as reported Investopedia—with the market reacting to rumors of cancelled plans.
View at TechPowerUp Main Site | Source
The US Department of Commerce deliberates over the nation's CHIPS Act—this fund could be utilized to "make up for the shortfall," following the Pentagon's reported last minute course change. The Department of Commerce could be forced to foot the entire bill—of $3.5 billion—if Intel's services are secured. Negotiations over a so-called "Secure Enclave" project have been ongoing since last year, according to insiders. It is possible that the "fast-moving" military spending bill set off alarms at the Pentagon—the Department of Defense's reasonings were not revealed by Bloomberg's investigation. Several media outlets have requested official comments from the two arms of government. Yesterday, Intel shares fell by 3%—as reported Investopedia—with the market reacting to rumors of cancelled plans.
View at TechPowerUp Main Site | Source
