Friday, 24 March, 2023

Canada's Brookfield and Intel to invest $30B in Arizona chip factories

<p>Intel and Canada&#39;s Brookfield Asset Management have reached an agreement worth up to $30B to jointly fund the American chipmaker&#39;s cutting-edge chip facilities in Arizona. The action was taken after U.S. President Joe Biden signed the CHIPS and Science Act, which contained a clause providing $52.7B in subsidies for American semiconductor production and research. The infrastructure unit of Brookfield will contribute up to $15B for a 49% stake in the expansion venture.</p>