https://www.cnbc.com/2024/11/25/intel-close-to-8-billion-chips-act-grant-source.html
Even with the $8B - Intel will still not be profitable.
The government is so far in debt that $8 billion is a drop in the bucket. It will have significant value for the economy compared to other expenditures.
Ahem... darn democrats causing debts and inflation
https://www.cnbc.com/2024/11/25/trump-tax-package-cost-gop-fight.html
It was negotiated before the next President could negotiate no lay-off clause. The CTO was upset that Intel had to shell out $3B from it's own pockets for "restructuring" costs. So this will more than pay for the next round of severance packages, if you're hoping for your own "bailout" next year.
I hope there are a lot conditions and guardrails so that Intel's leadership does not pi-s it away as they have done in the past.
"How is giving billions of U.S tax payers dollars a “favor” to the next administration or to the country for that matter? Bankrupting the country and going further into debt to “sponsor” corporate America isn’t precisely the definition of a “favor” to Trump… maybe to Pat and his minions… a “lifeline” at our expense, tax payers."
i am not sure why bailing out failing corporations is a wise move
the failing corporation will just be doing what it was doing before
without changing its bad behavior (like hiring, promotions, culture, ...)
where is this "money" coming from
what is the deficit this year
https://fred.stlouisfed.org/series/GFDEBTN
the debt is growing almost exponentially now
Tariffs are a much better, and more cost effective, way to level the competitive landscape with Taiwan and other mercantilist economies. Asian countries in particular have used protectionism and extreme subsidies in an attempt to drive out global competition.
Chip Act is a Socialist answer to this economic issue, as poorly performing as all other forms of welfare, and ruinous to the country in the long term.
As x86 is overtaken by ARM, if D.C. really cares about the national security implications then they will force Intel to merge ProdCo divisions with AMD, Qualcomm and others.
The bottom line is Intel is very close to receiving about $8B - I’d say it is a good news.
@zoo+1vF62Goe How is giving billions of U.S tax payers dollars a “favor” to the next administration or to the country for that matter? Bankrupting the country and going further into debt to “sponsor” corporate America isn’t precisely the definition of a “favor” to Trump… maybe to Pat and his minions… a “lifeline” at our expense, tax payers.
Yes but when will the money come and under what conditions ?
If this really happens by the end of Biden's term, it will be a huge favor to the next administration.