Intel received $5.7 billion in CHIPS Act funding as part of a deal that gives the US government a 10% stake in the struggling chipmaker, the company said.

Intel finance chief David Zinsner said the company got the cash infusion Wednesday and also hinted that it might seek other external investments during an investment conference Thursday.

“There’s likely going to be some opportunity for outside investors in foundry, and that will probably be our second opportunity to raise cash to fund the growth on the foundry side,” Zinser said. 3

Last month, Intel reported second-quarter earnings that beat Wall Street estimates, but its shares plunged 8% due to concerns around its foundry unit, which manufactures chips for other companies.

Meanwhile, the company is facing pressure from the W

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