Intel qualifies for $3.5 billion in grants to make chips for US military, Bloomberg News reports

FILE PHOTO: A smartphone with a displayed Intel logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration/File Photo

(Reuters) - Intel Corp has officially qualified for as much as $3.5 billion in federal grants to make semiconductors for the U.S Department of Defense, Bloomberg News reported on Friday, citing people familiar with the matter, after the chipmaker reached a binding agreement with U.S officials.

(Reporting by Harshita Meenaktshi in Bengaluru; Editing by Leslie Adler)