US considering more than $10 billion in subsidies for Intel as part of CHIPS act to secure domestic semiconductor manufacturing

The US Government is considering providing $10 billion worth of subsidies to Intel to secure semiconductor manufacturing on US home soil. A report from Bloomberg notes that currently, the majority of semiconductors used in the US for military and civilian application are manufactured in areas of Eastern Asia susceptible to Chinese sabotage and espionage, such as Taiwan. The CHIPS act has set aside $53 billion to secure domestic semiconductor manufacturing, with firms such as Micron, Samsung, and the Taiwan Semiconductor Manufacturing Company in the crosshairs for funding. Subsidized chips are on the table Intel is apparently planning to use potential…