Intel lobbied hard for chips money — and got a big payout

The Biden administration announced Wednesday it will provide Intel with subsidies, grants and tax credits in exchange for building new manufacturing and research facilities in the U.S. Combined, Intel’s haul could be worth as much as $44.5 billion. On POLITICO Tech, reporter Brendan Bordelon explains how the company lobbied its way to a big payday, and why President Joe Biden sees the deal as a political winner on the campaign trail.