Intel Required To Keep Control of Foundries Under $7.9 Billion Chips Act Deal

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

[Powercntrl]

Have they tried cutting out the avocado toast and maybe not buying a new iPhone every year? /s

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[evanh]

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?

[Joe_Dragon]

what about no STOCK BUY BACKS allowed as well?

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[DrMrLordX]

That ship already sailed years ago. Intel only stopped that when revenue dried up.

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[bussdriver]

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

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[divide overflow]

he already pardoned his friends for gifting

Oh, when you build such things the locals insert all the gift they can as well.

The word is grift/grifting, not gift/gifting.

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[gtall]

Yes, but in context and el Bunko's fondness for "contributions", gifting is appropriate. Almost his entire prospective cabinet is there because they gifted him. The Maggots claim they want to prevent regulatory capture by companies, so they are now turning over the regulatory agencies to a different set of companies who will own those agencies.

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[Senshi]

Mexicans are famous for creating burrows underground to deliver cheaper drugs or break out a drug lord from prison. But higher percentages of expensive drugs usually are smuggled by high class white people with do not check pass. They even use private planes, just because nobody could trust those bad hombres.

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[drinkypoo]

Based on our estimates of how much comes in, what percentage we catch and so on, the vast majority of drugs come in to the US through commercial ports on commercial shipments, and not through Mexico at all (although some does go through there of course, they have ports too.)

Certainly a small percentage of very high quality drugs are coming over on private planes, because why not?

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[buck-yar]

Biden is better than Trump at "Keeping tabs on that spending"? You can't be serious. You mean how Biden let the Taliban have an unspecified amount of US military equipment? Or how the Pentagon miscalculated $6.2 billion in funds sent to Ukraine? Or accusations Zelensky and top generals embezzled $400m meant for fuel? Biden looks like he doesn't know where he is. Wandering around lost. Yet you think he knows where these funds are going? I guess we can just type anything out these days and pass it off as fact

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[gtall]

The agreement to leave Afghanistan was signed by el Bunko. And it did take time to get Ukraine's internal controls up to speed given the bad history they inherited from being a Soviet State.

Under el Bunko, we know precisely where the money will go, i.e., himself and his rich friends. The little people will get nothing.

As for passing off anything as fact, look at the response of Mexico's First Lady to el Bunko. In a phone call, she informed him the tariffs he was threatening would hit American companies in M