- Intel Corp (NASDAQ:INTC) and Brookfield Asset Management Inc (NYSE:BAM) agreed to jointly fund up to $30 billion for the U.S. chipmaker's leading-edge chip factories in Arizona.
- Brookfield's infrastructure affiliate will invest up to $15 billion for a 49% stake in the expansion project.
- At the same time, Intel will retain majority ownership and operating control of the two chip factories meant to make advanced chips in Chandler, Arizona.
- Also Read: TSMC Clients To Bargain Over Foundry Prices
- Recently, the U.S. approved the Chips Act offering $52.7 billion in subsidies for U.S. semiconductor production and research.
- Intel, Taiwan Semiconductor Manufacturing Company Ltd (NYSE: TSM), all of which are now building new chip fabrication facilities worth tens of billions in the U.S., are the frontrunners for a sizable chunk of the grant.
- Intel clocked a 22% revenue decline in Q2 to $15.3 billion, missing the consensus citing "continued adverse market conditions."
- Intel's EPS of $0.29 missed the consensus.
- Intel's Q3 and FY22 guidance were below the consensus.
- Price Action: INTC shares traded higher by 0.62% at $34.05 on the last check Tuesday.
© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
To add Benzinga News as your preferred source on Google, click here.
