The Toronto-based affiliate of Brookfield Asset Management will put up as much as US$750 million of its own equity capital and has raised debt for much of the rest. It will take a 49 per cent share in the Chandler, Ariz. project, with Santa Clara, Calif.-headquartered Intel retaining a majority share. (The Logic)

Talking point: The semiconductor giant will run the two new plants, but Brookfield’s financing will help Intel break even on the project earlier, it said in a presentation for investors on Tuesday. It’s also seeking government subsidies for the facility, citing the new U.S. CHIPS and Science Act, which includes US$39 billion in manufacturing incentives. The U.S. legislation encourages firms to bring semiconductor production back to the U.S., “which has been an area of focus for us,” Brookfield Infrastructure CEO Sam Pollock said on an earnings call earlier this month. Intel, for its part, expects to spend US$27 billion this year on capital projects.