Intel’s Shock Strategic Shakeup May Doom Biden’s Bid to Reshore Microchip Manufacturing

US microchip giant Intel faces what’s been characterized as the most difficult moment in its 56-year history, hiring banksters to advise the company on whether to trim, slash or sell off its manufacturing business. That’s bad news for Washington, which greenlit $280 billion in funding in 2022 toward boosting domestic semiconductor manufacturing.