I like the proposed approach of purchase guarantees here. Directly injecting cash into Intel just creates a moral hazard where they spend the money dealing with organizational inertia than innovating in the space. Plus, the government could even turn a profit reselling its purchased semiconductors to various US companies!
The US ecosystem badly needs a serious Intel competitor -- because they just ain't it.
The payments are tied to real milestones like building fabs. Intel cannot spend the money on organizational inertia because that wouldn't get them the money.
It doesn't matter how badly they want to sell the chips if they don't have the money to build the fabs in the first place. That's where Intel is at right now. Building fabs is incredibly expensive and they need the money upfront.
You can get a loan against the value of a purchase contract if you have a firm purchase contract (i.e. from the government) and a convincing plan on how to manufacture to that price point...
The US ecosystem badly needs a serious Intel competitor -- because they just ain't it.