Infinera Signs Non-Binding Preliminary Memorandum of Terms to Receive Up to $93 Million in CHIPS Act Funding

SAN JOSE, Calif., Oct. 17, 2024 (GLOBE NEWSWIRE) -- Infinera (Nasdaq: INFN) and the U.S. Department of Commerce have signed a non-binding preliminary memorandum of terms for Infinera to receive up to $93 million in direct funding as part of the bipartisan CHIPS and Science Act. This proposed direct funding, when combined with investment tax credits available under the CHIPS and Science Act, could result in more than $200 million in total federal incentives as well as potential state and local incentives.

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