The U.S. Department of Commerce confirmed on Tuesday it has awarded 7.865 billion U.S. dollars to chip giant Intel under the U.S. CHIPS and Science Act.

The act was signed into law by President Joe Biden in 2022 to boost domestic semiconductor manufacturing. The funding will go toward manufacturing and advanced packaging (techniques to assemble and integrate multiple semiconductor chips into a single package) projects in Intel facilities across Arizona, New Mexico, Ohio, and Oregon.

"Strong bipartisan support for restoring American technology and manufacturing leadership is driving historic investments that are critical to the country's long-term economic growth and national security," Intel CEO Pat Gelsinger said in a statement.

"Intel is deeply committed to advancing these shared priorities as we further expand our U.S. operations over the next several years," Gelsinger said.

The sum is lower than the potential highest figure announced in March, when the White House said it reached an agreement with the Department of Commerce to give Intel a grant of "up to" 8.5 billion dollars.

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