Intel embarking on a 'journey to rebuild' US chip domination, CEO says

Intel CEO Pat Gelsinger is sharing the lead technology company’s excitement over billions of dollars in federal grants that will help the U.S. return to chip production prominence.

"This is a big investment to be a leading technology supplier for something so critical to our nation, the economy and our security. We're excited," Gelsinger said in a wide-ranging interview airing on "The Claman Countdown" Wednesday and Thursday. "Clearly, we are on a journey to rebuild our leadership position."

Stemming from the CHIPS and Science Act, the Biden-Harris administration announced Wednesday it would award Intel up to $8.5 billion in funding and $11 billion in federal loans for the company’s push into artificial intelligence (A.I.), efforts to move the semiconductor supply chain out of Asia onto U.S. soil and updates to their Israel office.