Intel Required To Keep Control of Foundries Under $7.9 Billion Chips Act Deal 7
Intel must maintain majority control of its foundries as a condition of receiving $7.86 billion in U.S. CHIPS Act funding, according to terms disclosed in a regulatory filing [PDF]. The semiconductor giant will need to keep at least 50.1% ownership if the foundry unit is spun off privately, while no single shareholder can hold more than 35% of shares if it goes public unless Intel remains the largest stakeholder. The restrictions, which also require Intel to remain a customer, come as the company struggles financially and recently restructured its foundry business as an independent unit.
Intel's financial struggles (Score:3)
Have they tried cutting out the avocado toast and maybe not buying a new iPhone every year? /s
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Or just not buying nearly every High-NA EUV lithographer made this year maybe. There's gotta be an explanation for such a move beyond Intel's own self-interest.
what about NO STOCK BUY BACKS ALLOWED as well? (Score:3)
what about no STOCK BUY BACKS allowed as well?
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That ship already sailed years ago. Intel only stopped that when revenue dried up.
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It is not fast moving to build such things when that act was only started about 2 years ago. The real problem is who will be in charge of keeping tabs on that spending going forward. Biden has an exceptional record for tracking such projects while Trump's record is one of the worst; likely to be discovered to be the worst - he already pardoned his friends for gifting. The wall building billions were wasted on a wall I read a $30 angle grinder makes nice almost invisible doors in it!
Oh, when you build such