Intel has announced its latest expansion effort, planning to spend up to $80 billion in chip-making in Europe.
Intel has been expanding at a record pace, announcing new factories and foundries in multiple US locations. The company is now taking that expansion to Europe in an effort to help insulate the EU from chip shortages over the next decade.
“Our planned investments are a major step both for Intel and for Europe,” said Pat Gelsinger, CEO of Intel. “The EU Chips Act will empower private companies and governments to work together to drastically advance Europe’s position in the semiconductor sector. 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.”
The expansion will begin with a $19 billion (17 billion euro) investment that will include a “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 initial investment will create 7,000 construction jobs and 3,000 permanent jobs at Intel. In addition, tens of thousands of jobs will be created from the supporting companies and industries that will spring up to support the new factories.