Intel Shares Rise on Report of $3.5 Bln Chip Deal With U.S. Military

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Intel Shares Rise on Report of $3.5 Bln Chip Deal With U.S. Military

Dow Jones09-16

By Don Nico Forbes

Shares in Intel rose after the company secured $3.5 billion in grants to produce semiconductors for the Pentagon, according to a Bloomberg report.

Shares were up 2% in premarket trading at $20.07.

The funding, which could be officially announced this week, is aimed at the development of advanced chips with military and intelligence applications, Bloomberg reported Friday.

The technology company was already awarded up to $8.5 billion in grants under President Joe Biden's Chips and Science Act in March, with the government seeking to bolster the country's semiconductor sector.

Write to Don Nico Forbes at don.forbes@wsj.com

(END) Dow Jones Newswires

September 16, 2024 09:46 ET (13:46 GMT)

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WendyHing
·09-16
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face=\"Arial\">\n<pre>\n \n</pre>\n<p>\n  By Don Nico Forbes \n</p>\n<pre>\n \n</pre>\n<p>\n  Shares in Intel rose after the company secured $3.5 billion in grants to produce semiconductors for the Pentagon, according to a Bloomberg report. \n</p>\n<p>\n  Shares were up 2% in premarket trading at $20.07. \n</p>\n<p>\n  The funding, which could be officially announced this week, is aimed at the development of advanced chips with military and intelligence applications, Bloomberg reported Friday. \n</p>\n<p>\n  The technology company was already awarded up to $8.5 billion in grants under President Joe Biden's Chips and Science Act in March, with the government seeking to bolster the country's semiconductor sector. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Don Nico Forbes at don.forbes@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  September 16, 2024 09:46 ET (13:46 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, 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in premarket trading at $20.07. \n\n\n  The funding, which could be officially announced this week, is aimed at the development of advanced chips with military and intelligence applications, Bloomberg reported Friday. \n\n\n  The technology company was already awarded up to $8.5 billion in grants under President Joe Biden's Chips and Science Act in March, with the government seeking to bolster the country's semiconductor sector. \n\n\n \n\n\n  Write to Don Nico Forbes at don.forbes@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  September 16, 2024 09:46 ET (13:46 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":1,"commentSize":1,"repostSize":1,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}