When and why US commerce secretary Gina Raimondo told CEOs of Microsoft, Google and other US companies to buy chips from Intel

The mounting troubles of chip giant Intel may be a nightmare for the Biden administration as well. Reason: Intel has been the poster boy for the US Chips Act announced by the US President Joe Biden government in 2022. Intel is the single biggest recipient of federal money from the CHIPS Act, a bipartisan bill aimed at making the United States less reliant on Asia for the tiny electronics that power everything from cars to iPads. Intel is also the sole recipient of a new $3 billion government contract to make advanced chips for the US military.