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It was a grant (free money). Then the terms were (mostly) unilaterally changed to be an equity investment. Right?
by davedx 1y ago
It was a grant (free money). Then the terms were (mostly) unilaterally changed to be an equity investment. Right?
- BeetleB 1y agoIt was because Intel likely wasn't going to get the rest of the grant money, because Lip-Bu Tan openly told the world he won't develop 14A without commitments from customers. If Intel is going to cease semiconductor development, then why should they get the rest of the taxpayer money? Even under Biden and Pat Gelsinger, the government was signaling to Intel that they may not get the full money if they don't make progress.
- cpncrunch 1y agoNo. It was a grant with profit sharing. The profit sharing was turned into equity. https://www.intc.com/news-events/press-releases/detail/1748/intel-and-trump-administration-reach-historic-agreement-to#:~:text=The%20existing%20claw%2Dback%20and,advances%20its%20U.S.%20investment%20plans. https://www.intc.com/news-events/press-releases/detail/1748/...