Intel Corp and Canada's Brookfield Asset Management on Tuesday agreed to jointly fund up to $30 billion for the U.S. chipmaker's leading-edge chip factories in Arizona.
The move comes after U.S. President Joe Biden earlier this month signed the CHIPS and Science Act into law, which included provision of $52.7 billion in subsidies for U.S. semiconductor production and research.
Brookfield's infrastructure affiliate will invest up to $15 billion for a 49% stake in the expansion project, while Intel will retain majority ownership and operating control of the two chip factories meant to make advanced chips in Chandler, Arizona.
Intel finance
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