The deal between Intel and the G-Man was first mentioned in the press in March 2024, but it was not based on statements from Intel at the time. Back then, it was presented as a $3.5 billion deal, so it seems like some money got shaved off the top,

Government House Communications Director Richard Motta discusses new housing programs for the Virgin Islands. (Screenshot from V.I. Government House Facebook live stream) Mondays

As foreign rivals leave the marquee chip maker behind, Intel gets a boost from the government, which wants to keep some semiconductor manufacturing securely and reliably based in the U.S., with generous cash incentives.

Intel is set to receive up to $3 billion in direct funding under the CHIPS and Science Act for the Secure Enclave program from the U.S. government.