An unpleasant twist for Intel!

📉 Intel Corp $INTCshares fell by more than 5 % after thePentagon announced the withdrawal of a $2.5 billion chip grant . I wrote here last week about the company getting that grant, and then losing it again a week later. This move, I believe, may affect Intel's access to federal funding, this in turn may lead to Intel seeking other sources of funding. 💼💡

According to the agency Bloomberg the decision will affect not only defense funding, but also potential sources of funding from the Commerce Department, which may now be a key player in chip development grants. 📊💰

Intel has tried to get funding in the past under the CHIPS Act a Science ActAct, including over $10 billion.

This situation comes at a time when Intel won a billion-dollar contract from the U.S. government to create a secure environment. Funding under the law is expected to CHIPS will be beneficial to the company. Developing Intel Foundry could have a significant impact on the global semiconductor market, which is currently dominated Taiwan. 🌍💻

I've already seen it for Intel quite promising and this is such a pitchfork thrown to the whole development again, of course it's not a suspension of all financial grants for Intelbut with their expansion every dollar will come in handy!