- Intel Corp (NASDAQ:INTC) announced the first phase of its plans to invest up to €80 billion in the EU over the next decade.
- Intel plans to invest €17 billion into a leading-edge semiconductor fab mega-site in Germany, a new R&D and design hub in France, and R&D, manufacturing, and foundry services in Ireland, Italy, Poland, and Spain.
- The investment will create 7,000 construction jobs, 3,000 permanent high-tech jobs at Intel, and tens of thousands of additional jobs across suppliers and partners.
- Intel targets a spend of €12 billion on Intel in its Leixlip, Ireland, expansion project.
- Intel and Italy negotiated to enable a state-of-the-art back-end manufacturing facility with up to €4.5 billion investment creating 1,500 Intel jobs plus an additional 3,500 jobs across suppliers and partners.
- The plants will help meet surging demand for chips used in computers, cars, smartphones, reduce reliance on Asian suppliers and ease the supply crisis.
- Price Action: INTC shares traded higher by 0.70% at $44.71 on the last check Tuesday.
