The manufacture of chips in Arizona will get $30 billion from Intel and Brookfield

A Brookfield company will put up to $15 billion into the Intel project to buy a 49% interest. The two facilities will continue to be operated by the chipmaker.

According to the corporation, the finance it got was less expensive than stock capital but more expensive than a loan.

Intel will be able to fund multi-year project commitments while preserving operational control thanks to the agreement, keeping its financing capacity for other objectives.

The investment is an expansion of a contract that Intel and Brookfield inked in February to look into financing possibilities for brand-new Intel production facilities.

The CHIPS and Science Act, which offered $52.7 billion in subsidies for US semiconductor production and research, was signed this month by US President Joe Biden, who also signed the agreement.