Intel and Brookfield to invest $30 billion in chip production in Arizona - Reuters

Brookfield, a subsidiary, will invest up to $15 billion to acquire a 49% stake in the Intel project. The chipmaker itself will retain operational control of the two plants.

Intel says that the funding received is more expensive than a loan, but cheaper than equity. The deal allows the company to maintain its debt load and direct the cash to expansion in Arizona.

The company is a beneficiary of Biden's new bill, which provides subsidies for semiconductor manufacturing and research in the United States.