In September, Intel CEO Pat Gelsinger announced plans to spin off Intel Foundry, citing potential flexibility to secure independent funding.

Intel said on Wednesday its deal for $7.86 billion in U.S. government subsidies restricts the company's ability to sell stakes in its chipmaking unit if it becomes an independent entity.

Intel's $7.86B subsidy mandates it keep majority control of its chip unit, Intel Foundry, and get US approval for ownership changes.

Intel has said that its deal for $7.86 billion in US government subsidies restricts the company's ability to sell stakes in its chipmaking unit if it becomes an independent entity. The US Commerce Department announced the subsidy to Intel on Tuesday,

More than two years since the signing of the CHIPs Act, funding is finally flowing to some of the mega-projects that the semiconductor bill intended to support.