Intel Corporation revealed a groundbreaking Semiconductor Co-Investment Program (SCIP), introducing a novel funding model to the semiconductor sector. As part of this initiative, Intel reached a definitive agreement with the infrastructure arm of Brookfield Asset Management. The two companies planned a joint $39 billion (US$30 billion) investment in Intel's Ocotillo campus in Chandler, Arizona. Intel was set to contribute 51% and Brookfield 49% of the total cost. This would see Intel maintaining majority ownership and operational control of two new chip factories in Chandler. Closing of the Brookfield deal was anticipated by the end of 2022. David Zinsner, Intel's CFO, highlighted the strategic importance of the deal, citing its alignment with Intel’s IDM 2.0 approach and the capital intensity of semiconductor production. Sam Pollock, Brookfield Infrastructure's CEO, expressed enthusiasm for the collaboration's potential to enhance semiconductor production capabilities. The partnership was expected to benefit Intel by offering access to a new capital pool, protecting its financial capacity for future ventures, and contributing a projected $15 billion cumulative advantage to Intel’s adjusted free cash flow over several years. SCIP was part of Intel’s larger Smart Capital approach, aiming for flexibility, efficient acceleration, and leveraging private capital alongside government incentives for the semiconductor industry. Lazard Frères & Co. LLC provided financial advice to Intel, while Skadden, Arps, Slate, Meagher & Flom LLP acted as Intel's legal counsel. Brookfield's legal matters were handled by Kirkland & Ellis LLP.