Intel’s stock just saw its worst daily drop in decades, falling 26% wiped off company $30 Billion market capitalization.

The company is undergoing Cost cutting program of $10 Billion conducting widespread layoffs and slashing capital expenses and also by suspending on dividend.

 Intel struck a deal with the U.S. government earlier this year that awarded the company $8.5 billion in direct funding as well as the loan of $11 billion through the chips act.

That’s the government program meant to bolster the US’s position in chip manufacturing and one shows officials are thinking more serious about it.

Given the increasing role how the semiconductor play,and the geoplitics and government including US making domestic chip manufacturing a priority.