Intel announces its investment in its EU manufacturing sites, with a new €17B “leading-edge semiconductor fab mega-site” in Germany, according to a press release by Intel on Tuesday.
- The company is also constructing a new R&D and design hub in France and plans to invest in extra regions in Ireland, Italy, Poland, and Spain for manufacturing, foundry services, and research.
- The new German facility will comprise two semiconductor fabs in Magdeburg, with construction set to begin in the first half of 2023, ahead of the scheduled production in 2027.
- Intel plans to bring its advanced technology to Europe, creating a next-generation EU chip ecosystem and addressing the need for a more balanced and resilient supply chain.
Pat Gelsinger, CEO of Intel stated the planned investments are a huge step both for Intel and for Europe, further stating that the broad program will boost Europe’s R&D innovation. INTC: Nasdaq is up +0.37%