Shares of Intel, AMD and Micron surged after reports of accelerating CHIPS Act funding. Intel is restructuring its awards to give the US government an equity stake of approximately 9.9% to 10%, representing roughly 433 million shares at around $20.47 per share, valued at about $8.9 billion. Micron finalized a CHIPS award worth between $6.1 billion and $6.44 billion to expand its fabrication capabilities in New York and Idaho, with committed capital expenditures exceeding $250 billion through 2035. AMD’s rise reflects sector momentum as the company has not disclosed any new CHIPS Act funding. The $31.2 billion in direct awards represents the opening phase of Washington’s plan to reverse the decline of US chip production, which fell from roughly 37% in the 1990s to about 12% before the legislation passed.
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