24/7 Market News- Intel Expands Strategic Collaboration with AWS and Awarded up to $3B under the CHIPS and Science Act

September 17, 2024

DENVER, Colo., Sep 17, 2024 (247marketnews.com)- Intel (NASDAQ: INTC) and Amazon’s (NASDAQ: AMZN) Amazon Web Services (AWS) reported that the two companies expanded their longstanding strategic collaboration by forming a multi-year, multi-billion-dollar framework to co-invest in custom chip designs covering Intel’s products and wafers.

Intel will produce an AI fabric chip for AWS on Intel 18A, Intel’s most advanced process node.

Pat Gelsinger, Intel’s CEO, commented, “This expansion of our longtime relationship with AWS reflects the strength of our process technology and delivers differentiated solutions for customer workloads.

“Intel’s chip design and manufacturing capabilities, combined with the comprehensive and broadly adopted cloud, AI and machine learning services of AWS, will unleash innovation across our shared ecosystem and support the growth of both businesses, as well as a sustainable domestic AI supply chain.”

Matt Garman, CEO at AWS, added, “At AWS, we’re committed to delivering the most powerful and innovative cloud infrastructure to our customers.

“By co-developing next-generation AI fabric chips on Intel 18A, we continue our long-standing collaboration, dating back to 2006 when we launched the first Amazon EC2 instance featuring their chips. Our continued collaboration allows us to empower our joint customers with the ability to run any workload and unlock new AI capabilities.”

Additionally, the Biden-Harris Administration announced that Intel was awarded up to $3 billion in direct funding under the CHIPS and Science Act for the Secure Enclave program, which is supposed to expand the manufacturing of leading-edge semiconductors for the U.S. government.

Chris George, Intel Federal’s president and general manager, stated, “Intel is proud of our ongoing collaboration with the U.S. Department of Defense to help strengthen America’s defense and national security systems.

“Today’s announcement highlights our joint commitment with the U.S. government to fortify the domestic semiconductor supply chain and to ensure the United States maintains its leadership in advanced manufacturing, microelectronics systems, and process technology.”

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