Intel, Venture Firms to Invest in U.S. Startups

Intel, the world's largest chipmaker, and a group of 24 venture-capital companies will invest $3.5 billion in US technology companies over the next two years to spur domestic job growth.

The effort includes a new $200 million technology fund by Intel Capital, the company's investment arm, Intel Chief Executive Officer Paul Otellini said in a speech at the Brookings Institution in Washington. The investments will be focused on information technology, biotechnology and so-called clean technology. Intel takes stakes in companies that have technology that can be used to increase future processor sales. Intel's microprocessors run about 80 percent of the world's personal computers. Otellini also said Intel is part of a group of companies that agreed to increase hiring of U.S. college graduates, creating as many as 10,500 jobs in 2010.