That will limit Chipzilla's ability to cash in and bail itself out Intel has quietly revealed that the $7.86 billion of cash coming its way thanks to the US CHIPS Act came with conditions that include Chipzilla retaining control of its foundries – an asset the struggling silicon giant may have intended to offload.

After delays and lobbying from business groups around the country, the U.S. Department of Commerce and Intel announced a deal Tuesday morning to release nearly $8 billion in direct CHIPS Act funding.

In September, Intel CEO Pat Gelsinger announced plans to spin off Intel Foundry, citing potential flexibility to secure independent funding.

Intel has said that its deal for $7.86 billion in US government subsidies restricts the company's ability to sell stakes in its chipmaking unit if it becomes an independent entity. The US Commerce Department announced the subsidy to Intel on Tuesday,