Intel Corp Enters Material Definitive Agreement

TL;DR

Intel just signed a big deal, details TBD.

AI Summary

Intel Corporation announced on November 25, 2024, that it has entered into a material definitive agreement. The filing does not disclose specific details of the agreement, the counterparty, or any associated financial figures.

Why It Matters

This filing indicates a significant new business arrangement for Intel, which could impact its future operations and financial performance.

Risk Assessment

Risk Level: medium — The lack of specific details in the filing creates uncertainty about the nature and potential impact of the agreement.

Key Players & Entities

• INTEL CORPORATION (company) — Registrant
• November 25, 2024 (date) — Date of earliest event reported
• Delaware (jurisdiction) — State of incorporation
• 2200 Mission College Boulevard (address) — Principal executive offices
• Santa Clara, California (location) — Principal executive offices location

FAQ

Key Financial Figures

• $0.001 — ange on which registered Common stock, $0.001 par value INTC Nasdaq Global Select Mar
• $7.8 billion — the DOC has agreed to award Intel up to $7.8 billion in direct funding and $65 million in wo
• $65 million — p to $7.8 billion in direct funding and $65 million in workforce development funding (colle
• $35 billion — foreign entities, (v) spending at least $35 billion on research and development within the

Filing Documents

• intc-20241125.htm (8-K) — 35KB
• a11252024form8-kex991.htm (EX-99.1) — 41KB
• intc-20241125_g1.jpg (GRAPHIC) — 5KB
• unboxedlogo_20202a.jpg (GRAPHIC) — 24KB
• 0000050863-24-000169.txt ( ) — 255KB
• intc-20241125.xsd (EX-101.SCH) — 2KB
• intc-20241125_lab.xml (EX-101.LAB) — 21KB
• intc-20241125_pre.xml (EX-101.PRE) — 12KB
• intc-20241125_htm.xml (XML) — 3KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. On November 25, 2024, Intel Corporation (" Intel ") entered into a direct funding agreement (the " Direct Funding Agreement ") with the U.S. Department of Commerce (the " DOC ") under which the DOC agrees to award Intel funding under the Creating Helpful Incentives to Produce Semiconductors and Science Act of 2022 (the " CHIPS Act "). Under the Direct Funding Agreement, the DOC has agreed to award Intel up to $7.8 billion in direct funding and $65 million in workforce development funding (collectively, the " Awards ") related to (i) the construction, modernization, tool purchase and installation in, and operation of, twelve microchip fabrication facilities and advanced packaging facilities located in Arizona, New Mexico, Ohio and Oregon (the " Projects ") and (ii) workforce activities related to the Projects. The DOC will disburse the Awards funding to Intel based on the achievement of various milestones, with each disbursement reimbursing Intel for eligible uses of funds already incurred and paid by Intel or its subsidiaries. Disbursements are Project-specific and subject to the achievement of various capital expenditure, facility completion, process technology development, wafer production, Intel products insourcing and external foundry customer acquisition milestones, the receipt of applicable permits and other governmental approvals, and various other conditions. The Direct Funding Agreement contains representations, warranties and covenants applicable to Intel and its affiliates that have direct or indirect ownership of any Project (those affiliates, together with Intel, the " Recipient Parties "), including with respect to (i) restrictions on dividends and share repurchases, (ii) restrictions on the expansion of semiconductor manufacturing capacity in certain foreign countries, (iii) restrictions on joint research and technology licensing with certain foreign entities, (iv) restrictions on the use or in

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure. On November 26, 2024, Intel issued a press release announcing the entry into the Direct Funding Agreement. A copy of the press release is attached as Exhibit 99.1 and incorporated by this reference. The information in this Item 7.01 and Exhibit 99.1 shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the " Exchange Act "), or otherwise subject to the liabilities of that section, and is not incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits. The following exhibits are provided as part of this Report: Exhibit Number Description 99.1 Press Release dated November 26, 2024 . 104 Cover Page Interactive Data File, formatted in Inline XBRL and included as Exhibit 101. 3

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. INTEL CORPORATION (Registrant) Date: November 27, 2024 By: /s/ APRIL MILLER BOISE April Miller Boise Executive Vice President and Chief Legal Officer 4

View Full Filing

View this 8-K filing on SEC EDGAR