Pentagon Reportedly Refuses to Invest $2.5 Billion into Secret Intel Defense Grant

[T0@st]

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.



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[bonehead123]

And people wonder why/how our gov't network/computer infrastructure continues to get hacked/attacked/hijacked....

I can't really blame intel, not that their stuff is any more or less secure than anyone else's, but if 2 different gov't agencies can't even decide how to divide up the CHIPs act funds, how in the hell can we hope to secure anything...

"Fast moving" HAHAHAHAHA......Since when does anything in Washington move fast ?

Bureaucracy 101 at it's finest, hehehe

 

[Shihab]

Pentagon refusing to dump truckloads of money on the 1% of the private sector? Donald Rumsfeld must be feeling betrayed right now.

 

[Steevo]

They haven't figured how to funnel the 10% for the big guy yet.....

 

[Ferrum Master]

Basically the US government has lost faith in Intel as such? Considering what kind of people they hire at their board, it begs no questions also.

 

[erocker]

Good! Billion dollar companies don't need billion dollar handouts.

 

[tabascosauz]

"Secure Enclave"

They really couldn't have picked a name that doesn't evoke PTSD of Intel SGX? You know, the "secure" technology so rife with exploits that the recommendation was just to disable it entirely?

 

[Leiesoldat]

Basically the US government has lost faith in Intel as such? Considering what kind of people they hire at their board, it begs no questions also.

Intel's lastest track record on computers systems for the Department of Energy has been pretty poor. I don't blame the Pentagon for deciding they probably need more bidders in the proposal phase.

 

[Space Lynx]

Good! Billion dollar companies don't need billion dollar handouts.

I'd be less worried about $10 billion for Intel, and more about the missing trillions from the Pentagons spending... as Bernie Sanders said before the Pentagon has never passed an audit... lol

Pentagon can't account for 63% of nearly $4 trillion in assets

DOD regularly buys parts and equipment it doesn’t need because it can’t keep track of the parts and equipment it already owns

responsiblestatecraft.org

 

[mechtech]

There goes Intel CEO $100 million bonus.....................

 

[remixedcat]

Basically the US government has lost faith in Intel as such? Considering what kind of people they hire at their board, it begs no questions also.

didn't they get ppl from enron on thier board?

 

[shoskunk]

Pentagon budget falls under the DoD. This story would be driven by a DoD decision involving Pentagon resources rather than the other way around.

Intel shares did not drop as a result of this "rumor".

 

[R0H1T]

There goes Intel CEO $100 million bonus

Probably not yet, you just wait till the EU picks up that tab