Jesus Christ, everyone in this thread just wants to be mad with no understanding the motivations or the objective of the CHIPS act altogether. Half of these people are just mad at the CHIPS act even exists. The biased headline only makes it worse. Do better
@TheLostSwede, this is tagged as "News", not an editorial piece.
CHIPS act exists because US (and the west in general) is morbidly aware and scared of its dependency on Taiwan and Korea for its leading-end chips (both threatened by China and DPRK respectively). Especially when there was a mini silicon apocalypse during covid and everyone became acutely aware of how bad the semiconductor situation really is. As another commenter pointed out, these aren't handouts, this is bribery. All large economies are trying to bribe fabs to build facilites in their backyards ASAP.
Taiwan and South Korea have poured a metric fuck ton of money bringing up TSMC and Samsung - those companies didn't do it on their own. TSMC is literally a state project started by the government of Taiwan. Intel's point is that US should be doing the same for American companies rather than spreading it equally among American and foreign fabs. It's a fair question to ask if giving money to TSMC and Samsung, after they already got government funding from their "home" countries accomplishes what CHIPS act is trying to accomplish.
Of course, as a cynic you can point out that it is very convenient that Intel is the only American fab remotely close to being competitive with TSMC and Samsung, but the argument that they are making does have some genuine merit. If the US CHIPS ACT doesn't end up supporting a top-to-bottom (almost, ignoring ASML) American fab then it's not meeting its objective to begin with. The US stands to lose orders of magnitude more money than the 53 billion they've committed to CHIPS act if shit hits the fan. TSMC spent 33 Billion on capex by itself in 2022 alone. 53 billion spread across 5 years and across various companies in the supply chain is peanuts.
PS : I'm an Asian dweller and don't give a single shit if Intel or US tech industry collapses, but I'm playing "the devil's advocate" here to provide some perspective.