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Intel Corporation (NASDAQ:INTC) shares are surging following reports that the company qualified for up to $3 billion in federal funding to produce semiconductors for U.S. military applications. The potential grant, part of the CHIPS and Science Act’s Secure Enclave program, aims to secure a domestic supply of advanced chips critical for defense and intelligence purposes. Intel has been working closely with the U.S. government through various defense programs such as the State-of-the-Art Heterogeneous Integration Prototype (SHIP) and Rapid Assured Microelectronics Prototypes-Commercial (RAMP-C)…

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