02:45 PM EDT, 09/16/2024 (MT Newswires) -- Intel ( INTC ) said Monday it received US government funding of up to $3 billion in support of Secure Enclave program that helps secure the domestic supply chain of advanced chips for defense and national security systems.

The company said it secured the funding under the Creating Helpful Incentives to Produce Semiconductors, or CHIPS, and Science Act for the Secure Enclave program.

Intel ( INTC ) shares were up more than 4% in recent trading.

Price: 20.52, Change: +0.86, Percent Change: +4.37