Intel has a history of using its cash for dividends and stock buybacks.
Management and shareholders have benefitted tremendously from this setup over the years. Meanwhile other tech companies either constantly reinvested in their business (e.g. Amazon) or hoarded cash for a rainy day. Intel's management will celebrate this the most.
Intel has $38b cash on hand.
$38 + $30B now
Hmm, if Intel is getting massive subsidy to build the fab, may be they should be required to give FRAND access to chip companies that may be looking for TSMC alternatives.
Intel has been quite serious about growing a foundry business. But there's no promise that continues, or that it is fair/reasonable/non-discriminatory. None the less I do give them quite a lot of credit as a company that seemingly very much wants to be making a wide variety of American chips.
Basically 30 B to Intel - nothing to AMD, Qualcomm, Nvidia, Apple - it’s main competitors in the logic chip business.
Is this an Intel bailout? I didn’t know they needed it.
This bill relates to manufacturing chips and AMD, Qualcomm, Nvidia, Apple don't manufacture chips; they are all fabless, meaning that they design chips but use third-party chip fabrication to physically manufacture chips for them.
Do Schumer/Cornyn have a nice Intel position assumed in the past year or so?