In September, Intel CEO Pat Gelsinger announced plans to spin off Intel Foundry, citing potential flexibility to secure independent funding.

Intel said on Wednesday its deal for $7.86 billion in U.S. government subsidies restricts the company's ability to sell stakes in its chipmaking unit if it becomes an independent entity.

Intel's $7.86B subsidy mandates it keep majority control of its chip unit, Intel Foundry, and get US approval for ownership changes.

The U.S. Department of Commerce today confirmed it has awarded $7.865 billion to chip giant Intel under the CHIPS and Science Act.

To build or expand semiconductor factories in several U.S. states.

The U.S. Commerce Department said Tuesday it was finalizing a $7.86 billion government subsidy for Intel , down from $8.5 billion announced in March after the California-based chips maker won a separate $3 billion award from the Pentagon.

The government grant is less than originally expected because the chip giant is also receiving separate funding for defense-related projects.

The Biden administration has finalized a deal to give Intel Corp. nearly $7.9 billion in federal grants, the largest direct subsidy from a program to boost domestic semiconductor manufacturing.

Intel has said that its deal for $7.86 billion in US government subsidies restricts the company's ability to sell stakes in its chipmaking unit if it becomes an independent entity. The US Commerce Department announced the subsidy to Intel on Tuesday,

Intel Corporation and the Biden-Harris Administration announced today that the U.S. Department of Commerce and Intel have reached agreement on terms to award the company up to $7.86 billion in direct funding for its commercial semiconductor manufacturing projects under the U.