Intel partners with Canadian investment fund to invest $30 billion in US chip manufacturing

Intel and Canadian Investment FundBrookfield has signed an agreement to invest $30 billion to expand chip production at Intel's Arizona plant. The agreement was signed under the scheme of co-financing the development of the semiconductor industry. The law was signed on August 9 by US President Joseph Biden. Under the law, the US government intends to allocate $52 billion for development and development in the field of semiconductors, the new law simplifies co-financing schemes for technology and investment companies. The agreement signed between Intel and Brookfield assumes that 51% of the total investment will be provided by Intel, the remaining 49% will be provided by Brookfield. Intel Director David Zinsner noted that the signed agreement is an important step in the development of a smart investment strategy in accordance with the law on creating incentives for the development of the semiconductor industry.