The Biden administration has finalized another multibillion dollar deal to build semiconductor plants in the U.S. The U.S. Department of Commerce announced today it has signed a deal with Intel Corp.

The U.S. Department of Commerce today confirmed it has awarded $7.865 billion to chip giant Intel under the U.S. CHIPS and Science Act, a federal statute signed into law by President Joe Biden in 2022 to boost domestic semiconductor manufacturing.

Senior administration officials said that the money will only go to help construct half of the $20 billion semiconductor plant.

The Commerce Department has reduced Intel’s CHIPS Act award by at least $500 million, to less than $8 billion, according to a report Sunday in The New York Times. The newspaper, citing four anonymous sources,