White House to give Intel $19.5 billion to boost US chip production

The video discusses the dependency on Taiwan for advanced chips and the supply chain issues highlighted by the COVID pandemic. President Biden announced a plan to bring chip manufacturing back to the US, with a significant investment from Intel. This initiative is expected to create thousands of jobs and is framed as crucial for national security. The announcement is part of Biden's broader agenda, which he is promoting ahead of the 2024 election. The plan aims to ensure that 20% of leading-edge chip production occurs in the US by the end of the decade.

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