Intel and Italy Move Forward With Talks for $9 Billion Chip Factory
Intel and Italy are moving forward with negotiations to build a $9 billion chip factory.
Under CEO Pat Gelsinger, Intel has been working to get back to the top of the chip industry. As part of those plans, the company has been investing heavily in new factories. The company hopes to not only step up its own internal production, but also wants to serve as the foundry for other companies, such as Apple, Amazon, and Qualcomm.
Intel is already spending $20 billion on two new factories in Arizonabut, according to Reuters, the company is looking to build a $9 billion factory in Italy. Reports indicate the talks are intensifying, paving the way for Italy to receiving 10% of the 80 billion euros Intel plans to invest in its European production.
The move will also help Intel, and the semiconductor industry in general, to lessen its dependence on manufacturing in Asia, potentially helping to insulate the supply chain from another pandemic-type disruption.