this post was submitted on 26 Oct 2024
82 points (95.6% liked)

PC Gaming

8442 readers
686 users here now

For PC gaming news and discussion. PCGamingWiki

Rules:

  1. Be Respectful.
  2. No Spam or Porn.
  3. No Advertising.
  4. No Memes.
  5. No Tech Support.
  6. No questions about buying/building computers.
  7. No game suggestions, friend requests, surveys, or begging.
  8. No Let's Plays, streams, highlight reels/montages, random videos or shorts.
  9. No off-topic posts/comments.
  10. Use the original source, no clickbait titles, no duplicates. (Submissions should be from the original source if possible, unless from paywalled or non-english sources. If the title is clickbait or lacks context you may lightly edit the title.)

founded 1 year ago
MODERATORS
[email protected]
[email protected]
[email protected]
82
Intel CEO is "frustrated" with CHIPS Act payout progress — Intel has received $0 from the $8.5 billion that the US government promised (www.tomshardware.com)
submitted 21 hours ago by [email protected] to c/[email protected]
26 comments fedilink hide all child comments
you are viewing a single comment's thread
view the rest of the comments
[–] [email protected] 71 points 17 hours ago (2 children)

This reticence to give out CHIPS Act funding right away apparently stemmed from fears from the government that Intel specifically would not meet its promises. “[There is fear that] Intel is going to take chips money, build an empty shell of a factory and then never actually open it, because they don’t have customers,” said former Commerce Department official Caitlin Legacki.

Honestly this seems like rare reasonable move by the federal government.

[–] [email protected] 7 points 9 hours ago

Thanks. I was hoping someone would shed light in the comments.

[–] [email protected] 12 points 15 hours ago (1 children)

I mean, 'take the money, build an empty factory' is what tech companies do when you give them a money helicopter.

Maybe we should stop giving them any money and just nationalize these failed businesses that need bailouts? (Yes, yes, Intel isn't failed - yet - but my point is still valid.)

If they're important to the national security or whatever, then they're important enough to go through that process for too.

[–] [email protected] 6 points 13 hours ago

"We took your $8.5 billion and instead of building 8.5 billion dollars worth of extra capacity, we built the capacity we were in the process of building anyway and used 8.5 billion dollars of our money to buy back stock"