Intel just signed a $7.86 billion CHIPS Act investment agreement with the US government, and along with the funds, Intel is now bound by a promise that its chip foundry business cannot be sold to anyone.
This does not mean that Intel cannot spin off the business from the parent company, but if it does, Intel will still have to maintain a 50.1 percent majority stake, and ensure that no other company has a stake of more than 35 percent in the company.
In the meantime, Intel will also have to ensure that they have a majority stake in all companies that will receive CHIPS Act funds. Any changes in ownership of the foundry business must be in line with the principles and objectives of the US government before it is allowed.
This goes some way to explaining why companies that were previously reported to be interested in buying Intel are generally no longer interested in taking it over. Intel's true value as a company is seen in its capacity as the largest high-tech semiconductor chip manufacturer in the United States, and it is not surprising that the US government wants to ensure that it remains under a company based in the country.
With this funding, Intel will also have to invest money in the development of semiconductor chip manufacturing technology. This is not something Intel needs to worry about as they already have a roadmap for the development of their semiconductor manufacturing process technology, which includes the Intel 18A, Intel 14A and Intel 3-PT processes.