US government eases CHIPS Act requirements for Intel: All the details

Intel

Intel disclosed in a regulatory filing that it no longer has to meet certain milestones or share project cash flows with the Commerce Department under the CHIPS Act. Instead, it will qualify for funding by showing it has already spent $7.9 billion on agreed projects — nearly the $7.87 billion it has invested so far.

The relaxation of conditions follows a landmark shift: the U.S. government recently took a 10 percent stake in Intel. The move was confirmed after a meeting between President Donald Trump and Intel CEO Lip-Bu Tan. Trump described the deal as a win for taxpayers, noting the government secured “$10 billion for the United States.” Intel later confirmed the U.S. will invest $8.9 billion in its common stock, combining $5.7 billion initially earmarked under the CHIPS Act with another $3.2 billion from the Secure Enclave program.

Intel still faces limits on using federal money — it cannot funnel funds into dividends or share buybacks. But most other workflow and compliance requirements have been lifted.

CEO David Zinser said Intel has already received $5.7 billion from Washington, alongside $2.2 billion in prior CHIPS Act grants, bringing total U.S. involvement to $11.1 billion.

For Intel, the government’s equity stake not only provides financial stability but also marks an unprecedented public-private entanglement in America’s semiconductor ambitions. For Washington, it reflects growing urgency to secure chipmaking within U.S. borders amid intensifying tech rivalries with China.