The government has finalized its grant to Intel.On Tuesday, the Biden administration announced the Commerce Department has awarded $7.865 billion to the company via direct funding from the Chips and Science Act.

The U.S. Department of Commerce announced that it will make a final award to Intel Corp. of up to nearly $7.87 billion in direct funding under the CHIPS and Science Act, the largest such grant to any company but slightly below the preliminary $8.5 billion that had been announced earlier.

The U.S. Department of Commerce today confirmed it has awarded $7.865 billion to chip giant Intel under the CHIPS and Science Act.