WASHINGTON, March 14 (Reuters) - President Joe Biden and

Commerce Secretary Gina Raimondo plan next week in Arizona to

unveil a multi-billion-dollar award for Intel Corp ( INTC ) to

expand its chip production in the United States, two people

familiar with the matter said on Thursday.

Intel ( INTC ), which has chip production facilities in Arizona, has

invited customers and suppliers to attend the event as well, one

of the people familiar with the matter said.

Intel ( INTC ) did not immediately respond to a request for comment.

The U.S. has been vying to increase domestic

semiconductor production through the U.S. CHIPS Act, which was

passed in 2022 and provides $52.7 billion in funding, including

$39 billion in subsidies for semiconductor production and $11

billion for R&D.