Intel and the U.S. government will likely finalise $8.5 billion in direct funding for the chipmaker before the end of the year, the Financial Times reported on Friday, citing people familiar with the discussions.

Intel (NASDAQ:INTC) is set to finalize an agreement with the U.S. government for $8.5B in direct funding by the end of this year, the Financial Times reported, citing people familiar with the matter.

Intel and the U.S. government are close to finalizing $8.5 billion in direct funding for the chipmaker, expected by year-end. This funding is part of a larger $20 billion package to boost domestic semiconductor production,

Arm Holdings Plc approached Intel Corp. about potentially buying the ailing chipmaker’s product division, only to be told that the business isn’t for sale, according to a person with direct knowledge of the matter.

Arm Holdings approached Intel about potentially acquiring the company's product division but was told that the business is not for sale, Bloomberg News reported on Thursday.

Arm Holdings approached Intel Corp about potentially buying the ailing chip maker’s product division, only to be told that the business is not for sale, according to a person with direct knowledge of the matter.