Intel is poised to build a $7bn manufacturing facility in Penang, Malaysia

The US puts an end to any plans Intel may have to make more chips in China

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The US is banning some major US chipmaking companies from building “advanced technology facilities” in China, the Biden administration has announced (opens in new tab).

The ban will apply to any company that receives funding as a part of the CHIPS and Science Act, which was approved by the US Congress in August (opens in new tab), and will last for 10 years. This act aims to increase domestic manufacturing of semiconductors with an influx of $50B across companies that apply. More than half of those funds are headed to cutting-edge facilities for today’s top chips, though a smaller amount will help to ease demand for older chips and into research. 

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