Intel’s $8.5 billion chips grant may take a hit: This may be the reason

The US government is reportedly reducing Intel’s CHIPS Act grant from $8.5 billion to under $8 billion due to delays in Intel’s Ohio chip factory construction and ongoing financial struggles. The delay, now pushing completion to the end of the decade instead of 2025, comes as Intel faces its largest quarterly loss in 56 years and competition from TSMC.