"The CHIPS Act gives the U.S. government $39 billion in grants to revive American semiconductor manufacturing. The government has already promised (but not yet disbursed) up to $8.5 billion in grants and $11.5 billion in low-cost loans for Intel. Today, Intel threatens to become this administration's Solyndra (the solar company, which went bankrupt after getting more than $500m in government funding). This would be disastrous, both for the government and Intel. The government has the leverage to force Intel down a better path—and it must use it now.
...Time is not on our side. It took Intel less than a decade to lose its lead—and it will take at least five years to get back in the game. The pace of change in the chip industry demands quick action by management and the government. TSMC is not slowing down. The longer we wait, the less competitive we become".
https://finance.yahoo.com/news/why-breaking-intel-two-only-112457705.html