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.

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