Intel reveals €33 billion ‘milestone’ investment in chip production in the EU – POLITICO

US chip giant Intel is investing tens of billions of euros in Germany, Italy, France and other European countries, to support European policymakers’ ambitions to catch up with production. global chip.

The project will “create a world-class chip ecosystem,” Intel CEO Pat Gelsinger said in an online interview. notification Third, it added that the “landmark investment” would “restore” Europe’s leadership in the sector.

“The world has an insatiable demand for semiconductors or chips,” Gelsinger said, adding that “recent shortages have reminded us of the risks of being too dependent” on some manufacturing facilities. limited large scale.

Intel’s pledge is a victory for EU policymakers as the bloc seeks to double its market value in the global semiconductor supply chain by 2030. “the first major achievement under the EU Chips Act,” European Commission President Ursula von der Leyen said in a video message.

The bloc in February launched its legislative initiative to establish funding plans and regulate competition rules for the sector. Convincing one of the top three chipmakers – TSMC, Intel and Samsung – to set up a “mega fab” production site in Europe is an important part of the EU’s strategy to catch up with global chip production. bridge.

That goal will be met, as Intel has committed to invest 17 billion euros in a new supermarket in Germany for advanced semiconductor production.

The German project – which Intel is calling “Silicon Crossing” – will include two high-end chip manufacturing units and be located in the city of Magdeburg, central Germany. It will create 7,000 construction jobs when it’s built and 3,000 jobs for chip engineers in the long term, Gelsinger said.

France will become “Intel’s European headquarters for high-performance computing design capabilities and artificial intelligence,” the company said. It added that it is increasing investment in Italy, where it wants to create 1,500 jobs for Intel and is in the process of acquiring the chip company Tower Semiconductor. Other investments will go to Poland and Spain, Gelsinger said.

“All of these investments will further strengthen Intel’s relationships with research institutions… across Europe,” the CEO said, estimating that the company will invest more than 33 billion dollars in total. euro across the bloc. Intel reveals €33 billion 'milestone' investment in chip production in the EU - POLITICO

Fry Electronics Team

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