https://www.pcgamesn.com/intel/20-billion-dollars-us-government-funding
The Biden-Harris administration has agreed to provide grants and loans to Intel to incentivize more investment from the company in the U.S.
What does non binding agreement mean? Can they just take the 8billion in grants with the "promise" of building plants that they don't have deliver?
Pretty much. Most likely that they’ll take the money, and come up incredibly short on their promises without any penalty.
Without any legal penalties.
But doing so, would surely risk intels reputation and future contracts with the government. The government could also impose other restriction or penalties on intel for non compliance.
But like you say, if intel does come up short, likely nothing will happen (unless some form of negligence is discovered)
You mean like how all the other oligarchs take in billions and then come up short and totally face repercussions?
How’s that super fast internet to every home doing? The telecom companies only got billions… what, maybe 4 or 5 times? I’m sure if the government keeps throwing literal tonnes and tonnes of money with no strings attached to these corporations, one day they may actually do what they say.
Oh, well, sure. Maybe. I suppose that depends how far they fall short and how upset the government actually gets about it.
You mean like telecoms do? Of course they can. They probably still could even if it was a 'binding' agreement
This is socialized business loss. Intel was (is?) on a downward spiral. An infusion of $20B just saves their hide until they can develop something valuable to the AI gold rush.
Frankly, all the republicans bitching about socialism need to take a harder look at shit like this and stop worrying about welfare queens or whatever the anti woke outrage of the day is.