07:02 AM EDT, 09/16/2024 (MT Newswires) -- Intel ( INTC ) has officially qualified for up to $3.5 billion in US government funding to make semiconductors for a secret military program, Bloomberg reported Monday, citing unnamed sources.

The program, called Secure Enclave, is meant to produce microchips for military and intelligence applications, Bloomberg reported.

The funding may be publicly announced next week, Bloomberg reported.

(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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