Intel is pumping 33 billion euros into European chip factories, research sites and projects.
In 2021, Intel promised an 80 billion euro investment plan for European chip production. Today, after weeks of radio silence, Intel confirmed new details.
Intel is dividing 80 billion euros into several phases. The first phase amounts to 33 billion euros. The money is purposed for projects in Germany, France, Ireland, Italy and Spain.
Intel in Magdeburg
Germany will receive two chip factories in Magdeburg. Construction starts as early as 2023. France receives funds for the construction of a research complex. Several Irish, Spanish and Italian production and research sites will be financed.
Intel describes the chip factories in Germany as ‘one-of-their-kind’. The wording is deliberate. For years, European policy prohibited European member states from offering assistance to chip manufacturers. The European Chips Act changes things. Governments may grant accelerated building permits for ‘one-of-a-kind’ factories. Intel actively incorporates the legislative in its strategy.
Negotiations with Italy
Italy is being considered for a new factory. In 2021, we heard rumours about a possible collaboration between Intel and Italy. Today, Intel confirmed ongoing negotiations of a 4.5 billion euro investment for a new plant.
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