Welcome to the TechMeme right home for Tuesday, November 26, 2024. I'm Brian McCullough. Today, Intel does get its money. Threads continues to fill the heat from blue sky and responds by giving people what they want. The new Mate 70 flagship smartphone from Huawei is Apple trying to make make the iPhone so thin it can't put a

SIM card in it? And yes, the whole Drake Kendrick Lamar beef. Here's what you miss today in the world

of tech. A couple of follow-up segments up top today. First up, the U.S. has officially awarded Intel up to

$7.865 billion under the Chips Act to help build or expand chip plants in Arizona, New

Mexico, Ohio, and Oregon, including more than $1 billion later this year, quoting the journal.

The funds are less than the $8.5 billion estimated for Intel in the

preliminary award in March. That is because of previously announced funding of up to $3 billion

to build secure facilities producing microchips for U.S. military and intelligence applications,

according to senior administration officials. The grant money set aside under 2022's Chips Act

aims to fund a resurgence of U.S. manufacturing to counteract any future COVID-era supply chain

disruptions such as, which happened during the COVID era, and address growing geopolitical tensions

with China. Much of the world's chip production has shifted to Asia in recent decades,

leaving the U.S. with around 12% of the world's chip production has shifted to Asia in recent decades, leaving the U.S.

with around 12% of the world's manufacturing in 2020. The funds will be dispersed to Intel based

on specific milestones, and Intel will get at least $1 billion in funds later this year,

the administration officials said. Under the funding agreement, Intel has agreed to not engage

in stock buybacks for five years,

according to the Commerce Department. Intel, the largest U.S. ship manufacturer by revenue,

no longer plans to draw on up to $11 billion in government loans under the program,

but still plans to apply for related tax credits, the administration officials said.

The money will go toward new factories and expansion projects in Arizona, New Mexico, Ohio, and Oregon, end quote.

And again, I feel like it's Threads that is feeling the heat from blue sky more than anybody else.

...