Intel Details Investment Europe Investment Plans, Announces Initial Investment Of Over 33 Billion Euros
Chipset making titan Intel has chosen a site in Germany to set up its huge complex for manufacturing chipsets.
New Delhi: Chipset making titan Intel has chosen a site in Germany to set up its huge complex for manufacturing chipsets. The company has announced a whopping $88 billion or up to 80 billion euros investment in Europe amid the ongoing global chipset crisis. The company has outlined 33 billion euros as an initial investment in Europe. The investment is focused around balancing the global semiconductor supply chain with a major expansion of Intel’s production capacities in Europe.
"Our planned investments are a major step both for Intel and for Europe. The EU Chips Act will empower private companies and governments to work together to drastically advance Europe’s position in the semiconductor sector," Pat Gelsinger, CEO of Intel, said in a statement.
"This broad initiative will boost Europe’s R&D innovation and bring leading-edge manufacturing to the region for the benefit of our customers and partners around the world. We are committed to playing an essential role in shaping Europe’s digital future for decades to come.”
Intel will start with new chip fabrication facilities, called fabs, at the Magdeburg site costing about $19 billion, with construction set to begin in 2023 and manufacturing in 2027, Gelsinger said. That'll let Intel build its own chips with leading edge technology, both for Intel itself and through a major expansion of its business called Intel Foundry Services, build chips for other customers as well.
The Santa Clara, California-based chip making giant will begin its manufacturing journey in Europe with new chipset fabrication facilities or fabs at the Magdeburg site which is worth about $19 billion. The construction at Magdeburg is slated to begin next year and manufacturing in 2027, according to Gelsinger. That'll let Intel build its own chips with leading edge technology, both for Intel itself and through a major expansion of its business called Intel Foundry Services, build chips for other customers as well, the CNET report added.
Earlier in January, the chipset-making giant had announced plans for an initial investment of more than $20 billion for the construction of two new leading-edge chip factories in the US state of Ohio. The investment is aimed at boosting production to meet the growing demand for advanced semiconductors, powering a new generation of products from Intel and serving the needs of foundry customers as part of the company’s IDM 2.0 strategy.
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