President Biden speaks at Chandler Intel plant

The Biden administration has reached an agreement to provide Intel with up to $8.5 billion in direct funding and $11 billion in loans for computer chip plants in four states, a cash infusion that the government says should help the U.S. boost its global share of advanced chip production from zero to 20%. President Biden spoke on the agreement at Intel?s Ocotillo campus in Chandler on March 20.