Joe Biden hailed after Intel gets $8.5 billion in massive CHIPS Act grant to produce semiconductors

NEW YORK CITY, NEW YORK: President Joe Biden awarded $8.5 billion in grants to Intel to expand semiconductor production in the United States on Wednesday, March 20.

This is the largest grant offered by the federal government that is funded by the CHIPS and Science Act passed in 2022, according to The New York Times.

The effort is part of the Biden administration's plans to ramp up production of processing chips domestically to reduce the reliance on foreign countries. While semiconductors were invented in the United States, they make only about 10 per cent of the world's chips at present.

“Nearly all manufacturing of leading-edge chips across the entire industry moved overseas to Asia years ago,” Biden said from the Intel campus in Chandler, Arizona. “That’s why today’s investment is such a big deal: We will enable advanced semiconductor manufacturing to make a comeback here in America.”

He also boasted of the numerous new manufacturing jobs that will be created in the process, adding, "It’s going to transform the semiconductor industry. Where the hell is it written saying that we’re not going to be the manufacturing capital of the world again?”

Joe Biden says his CHIPS Act to produce leading-edge semiconductors 

Taking to the social media platform X (formerly Twitter), Biden retweeted a post from the White House, stating, "Big News: Because of President Biden’s CHIPS and Science Act, Intel will build and expand semiconductor facilities in four states. This investment will create nearly 30,000 direct jobs and support tens of thousands of indirect jobs."

A poster accompanying the text showed the four states - Oregon, Arizona, New Mexico, and Ohio.

Biden wrote in his post, "Thanks to my CHIPS Act, America will produce roughly 20% of the world’s leading-edge semiconductors by the end of the decade. And we're going to create tens of thousands of American jobs in the process."

Internet reacts to president Joe Biden's tweet

Internet lauded Biden over his effort, as the following tweets demonstrate.

"It is great to provide job opportunities for people, I appreciate you for doing that," wrote a user.

"That sounds like a great plan to me, Mr President," shared another.

"No more chip on our shoulders … let’s go US" cheered a third.

"If we could just get the number up from 20% to 50% that would be an incredible improvement!" suggested a fourth.

"This is great, the Chips act is a good accomplishment!" noted a fifth.

This article contains remarks made on the Internet by individual people and organizations. MEAWW cannot confirm them independently and does not support claims or opinions being made online.