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JJ8

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JJ8

Re: JJ8 post# 151603

Wednesday, 03/13/2024 4:15:39 PM

Wednesday, March 13, 2024 4:15:39 PM

Post# of 151696
Intel Loses Pentagon Funding, Shell Plans 20% Business Team Reduction, and Latest News
March 13 2024 - 07:02AM
IH Market News

Intel (NASDAQ:INTC) – The Pentagon has decided not to proceed with a plan to allocate up to $2.5 billion in chip subsidies to Intel, shifting the responsibility to another federal agency, the Department of Commerce, to cover the shortfall. This change could impact the total funding Intel expects to receive, generating controversy over the use of the Chips Act funds. Intel sought more than $10 billion in incentives and is now looking to cut operational costs and streamline its organization to boost investor returns.
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