According to media reports, the U.S. government is considering reducing Intel Corporation INTC's federal chips grant under the CHIPS and Science Act from $8.5 billion to less than $8 billion. On the condition of anonymity,

Intel won't be happy about the 6% reduction in subsidies but certainty that the rest of the money is coming would be welcome.

The U.S. government plans to reduce Intel Corp's preliminary $8.5 billion federal chips grant to less than $8 billion, the New York Times reported on Sunday citing unnamed sources.