Intel won't be happy about the 6% reduction in subsidies but certainty that the rest of the money is coming would be welcome.

The Biden administration is reducing its award to the chip maker, partly to account for a multibillion-dollar military contract.

The U.S. government plans to reduce Intel Corp's preliminary $8.5 billion federal chips grant to less than $8 billion, the New York Times reported on Sunday citing unnamed sources. The change took into account a $3 billion contract Intel had been offered to make chips for the Pentagon,

Ohio officials are trying to get federal funding for Intel’s multi-billion dollar manufacturing facility, but as the months go on and as a new administration gets closer, tensions are rising. Tech giant Intel broke ground in the Buckeye State more than two years ago,

Intel Corporation (NASDAQ: INTC) is expected to see its funding under the CHIPS Act drop to below $8 billion from $8.5 billion, the NYT report said, citing people familiar with the grant. The report said the final contract had not yet been signed. Intel is the biggest recipient of support from the CHIPS Act.

Both sides of the political aisle are planning next steps for President-elect Donald Trump’s second term in office, and their plans both involve Intel. As Intel has grappled with layoffs, restructuring and a dropping stock price thanks to back-to-back losses in its last two quarterly earnings reports,