News Intel CEO is "frustrated" with CHIPS Act payout progress — Intel has received $0 from the $8.5 billion that the US government promised

[msroadkill612]

Ask anyone a decade ago what intel was & the reply would be insanely profitable &dominant chipmaker.
Monopolistic hubris & greed had now made manufacturing a millstone to their back,

Of course they would like some free taxpayer money to tart the division up & spin it off to retrieve some sunk capital, but dont for a moment think they have any patriotic motivation or gratitude.

The writing has been on the wall for half a decade, during which management have focused on their own & shareholder remuneration (dividends & buybacks), & massive losses from buying and selling (or liquidating) foolish random investments.

Most subsidies are wasted, but money disbursed to Intel will !certainly! be wasted.

 

[tamalero]

And neither does the consumer. So why would companies be different?

You can try to be as cynic as you want. but while Companies do not give a crap. As they are mostly run by CEOs who are pretty much sociopaths (required trait to succeed). But general people DO care.

Specially if your "cheap" clothes comes lazed by the most cancerigen materials in existence.

 

[Sestos]

That is fundamentally false. Instead of making stuff up, why dont you actually look into it. They are in debt because they started building a new production site in Ohio that was supposed to be funded with the chip act money. In addition, they are making several enhancements to their Rio Rancho location to start mainstream production of processors immediately. In addition to a new factory in Arizona and an additonal arm in Ronler, OR. in addition, their production facility in Germany. With all of this expansion they are also trying to get their foundry business profitable and the SEC out of the blue decided it needs to be on their balance sheets. Maybe, i dont know, research a topic before opening your face.

What did I state

That is fundamentally false. Instead of making stuff up, why dont you actually look into it. They are in debt because they started building a new production site in Ohio that was supposed to be funded with the chip act money. In addition, they are making several enhancements to their Rio Rancho location to start mainstream production of processors immediately. In addition to a new factory in Arizona and an additonal arm in Ronler, OR. in addition, their production facility in Germany. With all of this expansion they are also trying to get their foundry business profitable and the SEC out of the blue decided it needs to be on their balance sheets. Maybe, i dont know, research a topic before opening your face.

Please show what I stated was false.

 

[Drukkles]

Has any company received money through the CHIPS act or is it just some fraud with the gov keeping all of the money for themselves?

Yes - you can check the status of CHIPS disbursement through here

https://www.nist.gov/chips/proposed-funding-sites

Click on each company name - at the bottom it will show you.
PMT means they are currently getting the agreement finalized, Final Award means the money has been provided.