The United States government is dropping the requirements of its chips’s law for Intel

Intel should no longer fulfill some requirements or meet the landmarks that were already supposed to be under the Chips Law, and now that the government has obtained a share in the company. According to Wall Street JournalIntel said in a file that it is now possible to obtain funding from the government, as long as it can be shown that it has already spent $ 7.9 billion on the projects that agreed to an agreement under a deal with the Ministry of Trade last General. Reuters You notice that Intel has already spent $ 7.87 billion on projects funded by the Qualfits Law.

In addition, the company does not have to share a percentage of the total cumulative cash flow it gets from each project with the Trade Department anymore. It is not necessary to adhere to some of the requirements for the workflow policy of the chips and most other restrictions as well. However, it is still not possible to use the money you get from the government to obtain stock profits and to purchase shares.

If you were going to remember, the government recently decided Wake a 10 percent stake In Intel instead of following up with the original chips law deal. President Donald Trump formerly He called for Intel CEO of the lipstick For resignation, a meeting between them led to a new agreement. “He walked in his desire to keep his job and ended up giving us $ 10 billion to the United States,” Trump said. “So we picked up 10 billion.” Intel finally announced that the United States government “will invest $ 8.9 billion in Intel Common shares.” The purchase process will consist of $ 5.7 billion for Intel as part of the Chips Law, while the rest ($ 3.2 billion) will be granted as part of the safe pocket program.

CEO of Intel David Zinser recently open The company has already received $ 5.7 billion from the government on Wednesday night. The government previously granted Intel 2.2 billion dollars from grants under the Chips Law, which raised the total government’s participation with the company to $ 11.1 billion.