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An unpleasant twist for Intel!

📉 Intel Corp $INTC-0.1%shares fell by more than 5 % after thePentagon announced the withdrawal of a $2.5 billion chip grant . I wrote here last week about the company getting that grant, and then losing it again a week later. This move, I believe, may affect Intel's access to federal funding, this in turn may lead to Intel seeking other sources of funding. 💼💡

INTC

Intel

INTC
$36.26 -$0.05 -0.14%
1 Day
+0%
5 Days
+2.53%
1 Month
+4.04%
6 Months
+16.58%
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According to the agency Bloomberg the decision will affect not only defense funding, but also potential sources of funding from the Commerce Department, which may now be a key player in chip development grants. 📊💰

Intel has tried to get funding in the past under the CHIPS Act a Science ActAct, including over $10 billion.

This situation comes at a time when Intel won a billion-dollar contract from the U.S. government to create a secure environment. Funding under the law is expected to CHIPS will be beneficial to the company. Developing Intel Foundry could have a significant impact on the global semiconductor market, which is currently dominated Taiwan. 🌍💻

I've already seen it for Intel quite promising and this is such a pitchfork thrown to the whole development again, of course it's not a suspension of all financial grants for Intelbut with their expansion every dollar will come in handy!


Oh yeah, well, I don't have stock, but I'm still pretty sorry. I thought this was going to be a cool move and as you write, this is such a pitchfork thrown in.

I own the stock, and I continue to trust Intel, they could just use the money.

Agreed, well it's a shame it's changed like this, I didn't even expect something like this to happen.

Wow, and it was already looking so promising