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U.S. President Joe Biden listens to Intel CEO Pat Gelsinger as he attends the groundbreaking of the new Intel semiconductor manufacturing facility in New Albany, Ohio, U.S., September 9, 2022.

Joshua Roberts | Reuters

The White House said Intel has been awarded up to $8.5 billion in CHIPS Act funding, as the Biden administration ramps up its effort to bring semiconductor manufacturing to U.S. soil.

Intel could receive an additional $11 billion in loans from the CHIPS and Science Act, which was passed in 2022. The awards will be announced by President Joe Biden in Arizona on Wednesday.

The money will help “leading-edge semiconductors made in the United States” keep “America in the driver’s seat of innovation,” U.S. Secretary of Commerce Gina Raimondo said on a call with reporters. Intel and the White House said their agreement is nonbinding and preliminary and could change.

Intel has long been a stalwart of the U.S. semiconductor industry, developing chips that power many of the world’s PCs and data center servers. However, the company has been eclipsed in revenue by Nvidia, which leads in artificial intelligence chips, and has been surpassed in market cap by rival AMD and mobile phone chipmaker Qualcomm.

Even with its slide relative to its peers, Intel is uniquely situated in the industry because it operates chip factories, or fabs, in addition to designing processors. AMD and Nvidia, are fabless, which means they design the chip, then send computer files and staff to Taiwan’s TSMC for the manufacturing of the device.

TSMC has dominated the leading edge of semiconductor manufacturing in recent years, so all of the world’s fastest processors are physically built in Taiwan.

That’s a big reason why Intel was long expected to be one of the largest beneficiaries of the CHIPS (Creating Helpful Incentives to Produce Semiconductors) Act, which targeted the unlocking of nearly $53 billion in incentives for domestic chip technology. A key motivation behind the CHIPS Act was to encourage companies to build fabs on U.S. soil to prevent a supply disruption should China ever invade Taiwan.

Intel said it would spend its CHIPS Act funds on fabs and research centers in Arizona, Ohio, New Mexico and Oregon. The company previously announced plans to spend $100 billion on U.S. programs and facilities. Intel has announced a plan to catch up in leading-edge manufacturing by 2026.

Intel’s Ohio fab will cost more than $20 billion and Intel said it is expected to start production in 2027 or 2028. Intel is also expanding manufacturing operations in Arizona and New Mexico. Intel says the projects will create jobs for 20,000 people in fab construction and 10,000 people in chip manufacturing.

The Ohio fab will make AI chips for Intel as well as potentially fabricate AI chips for other semiconductor companies, Intel CEO Pat Gelsinger said on a call with reporters.

“Go drive by the Ohio site,” Gelsinger said. “There are a whole lot of cranes and concrete job trucks that are building what we believe will become the premier manufacturing location, at scale, particularly for AI chips in America.”

GlobalFoundries, Microchip, and BAE Systems have already received CHIPS Act money, according to the Semiconductor Industry Association. TSMC is expected to receive CHIPS Act funds for a fab in Arizona that will be used for Apple and AMD chips.

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Amazon delays first Kuiper internet satellite launch due to bad weather

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Amazon delays first Kuiper internet satellite launch due to bad weather

United Launch Alliance Atlas V rocket carrying the first two demonstration satellites for Amazon’s Project Kuiper broadband internet constellation stands ready for launch on pad 41 at Cape Canaveral Space Force Station on October 5, 2023 in Cape Canaveral, Florida, United States.

Paul Hennessey | Anadolu Agency | Getty Images

Amazon delayed the launch of its Kuiper internet satellites due to poor weather conditions on Wednesday night.

A United Launch Alliance rocket carrying 27 Kuiper satellites was set to lift off from a launchpad in Cape Canaveral, Florida, but ULA said it couldn’t continue countdown operations as “stubborn cumulus clouds” and heavy winds pushed the launch outside its planned window, according to a livestream.

“Weather is observed and forecast NO GO for liftoff within the remaining launch window at Cape Canaveral this evening,” ULA said. The company said it will provide a new launch date at a later point.

Six years ago Amazon unveiled its plans to build a constellation of internet satellites in low Earth orbit, a region of space that’s within 1,200 miles of Earth’s surface. The company aims to sell high-speed, low-latency internet to consumers, corporations and governments, offering connections through square-shaped terminals. Commercial service is expected to come online later this year.

Amazon is racing to compete with SpaceX’s Starlink, the dominant player in the market, with 8,000 satellites already up in the air. SpaceX CEO Elon Musk now has a central role in the White House as one of President Donald Trump’s top advisors, overseeing the Department of Government Efficiency, or DOGE. Since Musk took on the role, Starlink’s footprint has increased within the federal government.

The clock is ticking for Amazon to meet a deadline set by the Federal Communications Commission, which requires the company to have half of its total constellation, or 1,618 satellites, up in the air by July 2026.

Once it completes its first launch, Amazon expects to ramp up its production, processing and deployment rates. It’s begun prepping satellites for its next mission, which will also hitch a ride on one of ULA’s Atlas V rockets.

WATCH: Amazon launches Project Kuiper

Amazon launches Project Kuiper prototypes to low orbit as tech giant enters satellite internet race

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Google reverses policy telling workers not to discuss DOJ antitrust case

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Google reverses policy telling workers not to discuss DOJ antitrust case

Alphabet CEO Sundar Pichai meets with Polish Prime Minister Donald Tusk in Warsaw, Poland, on February 13, 2025.

Klaudia Radecka | Nurphoto | Getty Images

Google has reversed a policy forbidding employees from discussing its antitrust woes following a settlement with workers. 

The company sent a notice to U.S. employees last week saying it rescinded “the rule requesting that workers refrain from commenting internally or externally about the on-going antitrust lawsuit filed against Google by the U.S. Department of Justice,” according to correspondence viewed by CNBC.

Google settled with the Alphabet Workers Union, which represents company employees and contractors, according to the U.S. National Labor Relations Board, or NLRB. The settlement and policy reversal mark a major victory for Google staffers, who have seen increased censorship on subjects such as politics, litigation and defense contracts by the search giant since 2019. 

The U.S. Department of Justice filed an antitrust lawsuit against Google in 2020, alleging that the company has kept its share of the general search market by creating strong barriers to entry and a feedback loop that sustained its dominance.

Google said it “will not announce or maintain overbroad rules or policies that restrict your right to comment, internally or externally, about whether and/or how the on-going antitrust lawsuit filed against Google by the U.S. Department of Justice may impact your terms and conditions of employment,” according to last week’s notice. 

The policy change was first reported by The New York Times

The reversal comes as Google and the DOJ prepare to return to the courtroom for their scheduled remedies trial on April 21. The DOJ has said it is considering structural remedies, including breaking up Google’s Chrome web browser, which it argues gives Google an unfair advantage in the search market.

A U.S. District Court judge ruled in August that Google illegally held a monopoly in the search market. Google said it would appeal the decision. The DOJ doubled down on its calls for a breakup in a March filing.

Following the August ruling, Kent Walker, Google’s president of global affairs, sent a companywide email directing employees to “refrain from commenting on this case, both internally and externally.”

Shortly after, the Alphabet Workers Union filed an unfair labor practice charge against Google with the NLRB. The union alleged that Walker’s message was an “overly broad directive” and said that a breakup could impact workers’ roles. The NLRB in March ruled that Google must allow workers to speak on such topics.

Google’s settlement states that the National Labor Relations Act gives employees the right to form, join or assist a union. It notes that Google is not rescinding its prior clarification that states employees may not speak on behalf of Google on this matter without approval from the company. The settlement also adds that Google will not interfere with, restrain or coerce workers in the exercise of their rights.

Despite the settlement, spokesperson Courtenay Mencini said Google did not agree with the NLRB’s ruling. 

“To avoid lengthy litigation, we agreed to remind employees that they have the right to talk about their employment, as they’ve always been free to and regularly do,” Mencini said in a statement to CNBC.

The settlement by Google comes at a “crucial moment” ahead of the remedies trial, the Alphabet Worker’s Union said Monday. 

“We think the potential remedies from this trial could have impact on our wages, working conditions and terms of employment,” said Stephen McMurtry, communications chair of the Alphabet Workers Union-CWA, told CNBC.

WATCH: Google’s cloud strategy amid tariff turmoil

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Apple has best day since 1998 on Trump’s 90-day tariff pause

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Apple has best day since 1998 on Trump's 90-day tariff pause

Apple CEO Tim Cook inspects the new iPhone 16 during an Apple special event at Apple headquarters on September 09, 2024 in Cupertino, California. 

Justin Sullivan | Getty Images

Apple shares skyrocketed 15% on Wednesday after President Donald Trump announced a 90-day pause on his administration’s “reciprocal tariffs,” which would have affected the company’s production locations in Vietnam, India, and Thailand.

The rally added over $400 billion to Apple’s market cap, which now stands just under $3 trillion. It was Apple’s best day since January 1998, when late founder Steve Jobs was the interim CEO and three years before the company unveiled the first iPod. At the time, Apple’s market cap was close to $3 billion.

Apple has been the most prominent name to get whacked by Trump’s tariffs. Before Wednesday, it was on its worst four-day trading stretch since 2000. Investors worried about Apple’s outlook because the company still makes the majority of its revenue from selling physical devices, which need to be imported into the U.S.

Most of Apple’s iPhones and other hardware products are still made in China, which was not exempted from tariffs on Wednesday. In fact, Trump increased tariffs on China to 125% on Wednesday, up from 54%.

China issued an 84% tariff on U.S. goods this week, raising the possibility that Apple could get caught up in a trade war and lose ground in China, its third-largest market by sales.

Apple has worked to diversify its supply chain to lessen reliance on China in recent years.

On Wednesday, tariffs on Vietnam were reduced from 46% to 10%, and tariffs on India were cut 26% to 10%, which raises the possibility that Apple will be able to serve a large percentage of its U.S. customers from factories outside of China with lower tariffs.

Stocks skyrocketed across the board on Wednesday after Trump announced the tariff pause. The Nasdaq Composite climbed over 12%, its second-best day ever.

Apple hasn’t commented publicly on Trump’s tariffs, but CEO Tim Cook will likely address the topic on an earnings call on May 1.

WATCH: Apple falls more than 20% in four days

Apple falls more than 20% in 4 days as China tariffs loom

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