03:09 PM EDT, 03/14/2024 (MT Newswires) -- US President Joe Biden and Commerce Secretary Gina Raimondo will unveil a multibillion-dollar award for Intel ( INTC ) in Arizona next week, aimed at expanding the company's chip production in the US. Reuters reported Thursday, citing two people familiar with the matter.

Intel ( INTC ), with chip production facilities in Arizona, invited customers and suppliers to join the event, one of the sources said, Reuters reported.

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

Intel ( INTC ) didn't immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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