Intel CEO Pat Gelsinger (L) and Intel Factory Manager Hugh Green (R) watch as US President Joe Biden (C) appears at a semiconductor wafer throughout a tour at Intel Ocotillo Campus in Chandler, Arizona, this week. The White House unveiled virtually $20 billion in new grants and loans Wednesday to assist Intel’s US chip-making amenities.

BRENDAN SMIALOWSKI/AFP by way of Getty Images

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BRENDAN SMIALOWSKI/AFP by way of Getty Images

Intel CEO Pat Gelsinger (L) and Intel Factory Manager Hugh Green (R) watch as US President Joe Biden (C) appears at a semiconductor wafer throughout a tour at Intel Ocotillo Campus in Chandler, Arizona, this week. The White House unveiled virtually $20 billion in new grants and loans Wednesday to assist Intel’s US chip-making amenities.

BRENDAN SMIALOWSKI/AFP by way of Getty Images

President Biden simply awarded $8.5 billion {dollars} to the corporate Intel to assist fund semiconductor factories in Arizona, Ohio, New Mexico, and Oregon.

At a go to to Intel’s campus exterior Phoenix this week, President Biden mentioned the cash will assist semiconductor manufacturing make a comeback within the US after 40 years.

The cash for Intel comes from the $ 9 billion put aside by the 2022 CHIPS and Science Act, to construct chip factories. The administration’s purpose? For 20% of the world’s modern semiconductor chips to be made on American soil by 2030.

The US at the moment makes zero of the world’s modern semiconductor chips. By 2030, the Biden administration desires to make A FIFTH of them. So how will America get there?

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This episode was produced by Jonaki Mehta and Erika Ryan with audio engineering by Kwesi Lee.

Our government producer is Sami Yenigun.