To build or expand semiconductor factories in several U.S. states.

Intel has managed to secure a $7.86 billion Investment through the newly incorporated CHIPS & Science Act. Here's more about it.

The government grant is less than originally expected because the chip giant is also receiving separate funding for defense-related projects.

The Biden administration has finalized a deal to give Intel Corp. nearly $7.9 billion in federal grants, the largest direct subsidy from a program to boost domestic semiconductor manufacturing. The agreement for the struggling chipmaker,

The U.S. Commerce Department said Tuesday it was finalizing a $7.86 billion government subsidy for Intel , down from $8.5 billion announced in March after the California-based chips maker won a separate $3 billion award from the Pentagon.

The Silicon Valley company will receive less money from the CHIPS Act after winning a $3 billion military contract and changing some of its investment commitments.

Intel and the Biden administration have finalized terms to an agreement that will see the chipmaker receive up to $7.86 billion in CHIPS Act funding, down from the originally announced $8.5 billion preliminary agreement in March.

Intel will receive about $7.86 billion in funding from the CHIPS and Science Act to build new semiconductor manufacturing facilities across four states under its finalized agreement with the Biden administration.