646jili01 LOS ANGELES (AP) — The Biden administration plans on reducing part of Intel's $8.5 billion in federal funding for computer chip plants around the country, according to three people familiar with the grant who spoke on the condition of anonymity to discuss private conversations. Read this article for free: Already have an account? To continue reading, please subscribe: * LOS ANGELES (AP) — The Biden administration plans on reducing part of Intel's $8.5 billion in federal funding for computer chip plants around the country, according to three people familiar with the grant who spoke on the condition of anonymity to discuss private conversations. Read unlimited articles for free today: Already have an account? LOS ANGELES (AP) — The Biden administration plans on reducing part of Intel’s $8.5 billion in federal funding for computer chip plants around the country, according to three people familiar with the grant who spoke on the condition of anonymity to discuss private conversations. The reduction is largely a byproduct of the $3 billion that Intel is also receiving to provide computer chips to the military. President Joe Biden announced the agreement to provide Intel with up to $8.5 billion in direct funding and $11 billion in loans in March. The changes to Intel’s funding are not related to the company’s financial record or milestones, the people familiar with the grant told The Associated Press. In August, the chipmaker announced that it would cut 15% of its workforce — about 15,000 jobs — in an attempt to turn its business around to compete with more successful rivals like Nvidia and AMD. Unlike some of its rivals, Intel manufactures chips in addition to designing them. Two years ago, President Biden hailed Intel as a job creator with its plans to open a new plant near Columbus, Ohio. The president praised the company for plans to “build a workforce of the future” for the $20 billion project, which he said would generate 7,000 construction jobs and 3,000 full-time jobs set to pay an average of $135,000 a year. The California-based tech giant’s funding is tied to a sweeping 2022 law that President Biden has celebrated and which is designed to revive U.S. semiconductor manufacturing. Known as the CHIPS and Science Act, the $280 billion package is aimed at sharpening the U.S. edge in military technology and manufacturing while minimizing the kinds of supply disruptions that occurred in 2021, after the start of the coronavirus pandemic, when a shortage of chips stalled factory assembly lines and fueled inflation. The Biden administration helped shepherd the legislation following pandemic-era concerns that the loss of access to chips made in Asia could plunge the U.S. economy into recession. When pushing for the investment, lawmakers expressed concern about efforts by China to control Taiwan, which accounts for more than 90% of advanced computer chip production. In August, the administration pledged to provide up to $6.6 billion so that a Taiwanese semiconductor giant could expand the facilities it is already building in Arizona and better ensure that the most advanced microchips are produced domestically for the first time. The Commerce Department said the funding for Taiwan Semiconductor Manufacturing Co. meant the company could expand on its existing plans for two facilities in Phoenix and add a third, newly announced production hub. The administration has promised tens of billions of dollars to support construction of U.S. chip foundries and reduce reliance on Asian suppliers, which Washington sees as a security weakness. _____ Boak reported from Washington. Advertisement

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Radical Jaguar rebrand and new logo sparks ire online NEW YORK (AP) — A promotional video for a rebrand of British luxury car brand Jaguar is being criticized online for showing models in brightly colored outfits — and no car. The rebrand, which includes a new logo, is slated to launch Dec. 2 during Miami Art Week, when the company will unveil a new electric model. But Jaguar Land Rover, a unit of India’s Tata Motors Ltd., has been promoting it online. The Jaguar brand is in the middle of a transition to going all-electric. “Copy Nothing,” marketing materials read. “We’re here to delete the ordinary. To go bold. To copy nothing.” Trump has promised again to release the last JFK files. But experts say don’t expect big revelations DALLAS (AP) — The nation is set to mark 61 years since President John F. Kennedy was assassinated as his motorcade passed through downtown Dallas on Nov. 22, 1963. Even after over six decades, conspiracy theories about what happened that day still swirl and the desire to follow every thread of information hasn’t waned. President-elect Donald Trump made promises over the summer that if reelected he would declassify the remaining records. At this point, only a few thousand of millions of pages of records related to the assassination have yet to be fully released. And those who have studied what's been released so far say that the public shouldn’t anticipate any earth-shattering revelations even if the remaining files are declassified. Bitcoin is at the doorstep of $100,000 as post-election rally rolls on NEW YORK (AP) — Bitcoin is jumping again, rising above $98,000 for the first time Thursday. The cryptocurrency has been shattering records almost daily since the U.S. presidential election, and has rocketed more than 40% higher in just two weeks. It's now at the doorstep of $100,000. Cryptocurrencies and related investments like crypto exchange-traded funds have rallied because the incoming Trump administration is expected to be more “crypto-friendly.” Still, as with everything in the volatile cryptoverse, the future is hard to predict. And while some are bullish, other experts continue to warn of investment risks. NFL issues security alert to teams and the players' union following recent burglaries The NFL has issued a security alert to teams and the players’ union following recent burglaries involving the homes of Chiefs stars Patrick Mahomes and Travis Kelce. In a memo obtained by The Associated Press, the league says homes of professional athletes across multiple sports have become “increasingly targeted for burglaries by organized and skilled groups.” Law enforcement officials noted these groups target the homes on days the athletes have games. Players were told to take precautions and implement home security measures to reduce the risk of being targeted. Some of the burglary groups have conducted extensive surveillance on targets. Penn State wins trademark case over retailer's use of vintage logos, images PHILADELPHIA (AP) — Penn State has won a closely watched trademark fight over an online retailer’s use of its vintage logos and images. A Pennsylvania jury awarded Penn State $28,000 in damages earlier this week over products made and sold by the firms Vintage Brand and Sportswear Inc. Penn State accused the firms of selling counterfeit clothing and accessories. The defendants said their website makes clear they are not affiliated with Penn State. At least a dozen other schools have sued the defendants on similar grounds, but the Pennsylvania case was the first to go to trial. Defense lawyers declined to comment on the verdict and whether they planned an appeal. Has a waltz written by composer Frederic Chopin been discovered in an NYC museum? NEW YORK (AP) — A previously unknown musical work written by composer Frederic Chopin appears to have been found in a library in New York City. The Morgan Library & Museum says the untitled and unsigned piece is the first new manuscript of the Romantic era virtuoso to be discovered in nearly a century. Robinson McClellan, the museum’s curator, says he stumbled across the work in May while going through a collection brought to the Manhattan museum years earlier. He worked with outside experts to verify the document's authenticity. But there’s debate whether the waltz is an original Chopin work or merely one written in his hand. Volcano on Iceland's Reykjanes Peninsula erupts for the 7th time in a year GRINDAVIK, Iceland (AP) — A volcano on the Reykjanes Peninsula in southwestern Iceland is spewing lava from a fissure in its seventh eruption since December. Iceland's seismic monitors said the eruption started with little warning late Wednesday and created a long fissure but looked to be smaller than eruptions in August and May. Around 50 houses were evacuated after the Civil Protection agency issued the alert, along with guests at the famous Blue Lagoon resort, according to the national broadcaster. The repeated eruptions over the past year have caused damage to the town of Grindavík and forced people to relocate. Australian teen and British woman who drank tainted alcohol in Laos have died, bringing toll to 5 VIENTIANE, Laos (AP) — An Australian teenager and a British woman have died after drinking tainted alcohol in Laos in what Australia’s prime minister said was every parent’s nightmare. Officials earlier said an American and two Danish tourists also had died following reports that multiple people had been sickened in town popular with backpackers. Australian Prime Minister Anthony Albanese told Parliament that 19-year-old Bianca Jones had died after being evacuated from Vang Vieng, Laos, for treatment in a Thai hospital. Her friend, also 19, remains hospitalized in Thailand. Later Thursday, Britain said a British woman also died and the media in the U.K. identified her as 28-year-old Simone White. US ahead in AI innovation, easily surpassing China in Stanford's new ranking The U.S. leads the world in developing artificial intelligence technology, surpassing China in research and other important measures of AI innovation, according to a newly released Stanford University index. There’s no surefire way to rank global AI leadership but Stanford researchers have made an attempt by measuring the “vibrancy” of the AI industry across a variety of dimensions, from how much research and investment is happening to how responsibly the technology is being pursued to prevent harm. Following the U.S. and China were the United Kingdom, India and the United Arab Emirates. Pop star Ed Sheeran helps favorite soccer team sign player before getting on stage with Taylor Swift It turns out British pop star Ed Sheeran is also good at recruiting soccer players. Sheeran is a minority shareholder at English soccer team Ipswich Town and it needed his help over the summer to get a player to join the club. Ipswich CEO Mark Ashton tells a Soccerex industry event in Miami: “Ed jumped on a Zoom call with him at the training ground, just before he stepped on stage with Taylor Swift. Hopefully that was a key part in getting the player across the line.” Ashton didn’t disclose the player in question, saying only: “He’s certainly scoring a few goals.”