Intel To Spend More Than EUR 33 Bln On Manufacturing Investments In European Union

(RTTNews) - Intel (INTC) announced the first phase of its plans to invest as much as 80 billion euros in the European Union over the next decade along the entire semiconductor value chain. This includes plans to invest an initial 17 billion euros into a leading-edge semiconductor fab mega-site in Germany, to create a new R&D and design hub in France, and to invest in R&D, manufacturing and foundry services in Ireland, Italy, Poland and Spain. The new fabs are expected to deliver chips using Intel's most advanced, Angstrom-era transistor technologies, serving the needs of both foundry customers and Intel for Europe and globally.

In the initial phase, the company plans to develop two first-of-their-kind semiconductor fabs in Magdeburg, Germany. Intel believes Germany is an ideal place to establish a new hub - a Silicon Junction - for advanced chipmaking. The company plans to initially invest 17 billion euros. Intel is also continuing to invest in its Leixlip, Ireland, expansion project, spending an additional 12 billion euros and doubling the manufacturing space to bring Intel 4 process technology to Europe and expand foundry services. Also, Intel and Italy have entered into negotiations to enable a state-of-the-art back-end manufacturing facility with a potential investment of up to 4.5 billion euros. In total, the company plans to spend more than 33 billion euros on these manufacturing investments.

Around Plateau de Saclay, France, Intel plans to build its new European R&D hub. France will become Intel's European headquarters for high performance computing and artificial intelligence design capabilities. Also, Intel plans to establish its main European foundry design center in France. In Gdansk, Poland, Intel is increasing its lab space by 50%.

Pat Gelsinger, CEO of Intel, said: "The EU Chips Act will empower private companies and governments to work together to drastically advance Europe's position in the semiconductor sector. We are committed to playing an essential role in shaping Europe's digital future for decades to come."