Intel won up to $8.5 billion in CHIPS Act funding.rose more than 300 points Tuesday, to finish the day 0.83% higher. That's good for its best day since Feb. 22. Thegained 0.39%. Stocks got a boost as Treasury yields dipped broadly. The rate on the benchmark 10-year Treasury was down more than 4 basis points on Tuesday at 4.295%.
A binary code and Intel logo are seen in this multiple exposure illustration photo taken in Krakow, Poland on February 21, 2024.in CHIPS Act funding, the White House said Wednesday. The grant is part of an effort by the Biden administration to bring semiconductor manufacturing to U.S. soil. The company could also receive up to $11 billion in loans tied to the legislation, which was passed in 2022. Intel has long been a key part of the U.S.
Source: News Formal (newsformal.com)
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