04:54 AM EDT, 09/27/2024 (MT Newswires) -- Intel ( INTC ) and the US government are on track to finalize $8.5 billion in direct funding for the company before the year ends, the Financial Times reported, citing unnamed people familiar with the discussions.

The preliminary terms of the funding agreement were disclosed in March. It would be the largest single subsidiary package awarded through the Chips and Science Act, the news outlet said.

Two sources told FT that while the talks were at an advanced stage, there is no guarantee it will be finalized before the year ends. Any potential takeover of Intel's ( INTC ) business could potentially complicate the talks, they added, according to the report.

Intel ( INTC ) and the US Department of Commerce did not immediately respond to MT Newswires' requests 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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