This was the most interesting Q in the Q&A, for me anyway. The Ohio build is all about the CHIPs act and getting money from the Federal Government. Clever move of course. If the Feds don't give money to Intel there will be a fab shell to remind us all of the missed opportunity to make semiconductors great again, absolutely.
Ambrish Srivastava
Pat, I just wanted to check in on the expansion plans that you have. How much of that is dependent on the CHIPS Act passing and also from other incentives? And I asked that because I was listening to your presentation, I guess, earlier in the week at the Ohio site. And you did make a comment there urging attendees to make sure that they weigh into the standard they can to get the act passed. So I just was wondering how much of that of the expansion plans are dependent on the act here as well as in Europe, some government incentives.
Pat Gelsinger
Well, thank you for that question. It's one I hoped would be raised in the call. So thank you for that. And I'll just say overall, I mean, it was just a fabulous day in Ohio, right? The enthusiasm we've gotten. And as I said at the event, we're -- we help put silicon into Silicon Valley. We established the Silicon Forest in Oregon, the Silicon Desert in Arizona and now the Silicon Heartland. And the enthusiasm we've gotten from the leadership there, the governor, the congressional leaders and being able for this farm kit from Pennsylvania to stand on stage in the White House and say now it's my pleasure to introduce the President of the United States of America, just surreal. So just a fabulous day for Intel, our nation and our industry. Obviously, with the CHIPS Act going on the floor of the House, we're highly encouraged. And I spoke to Speaker Pelosi at length on this subject just yesterday as there you expect it will be debated on the floor next week. And hopefully, following what we expect will be passage in the House, a reconciliation process. So I'd say everybody is now more optimistic on this coming across the line in the near future.
Now obviously, I think we and others have viewed the passage of this as an accelerant for our investment plans. And as I've said very clearly, hey, we're going to build a site in Ohio. It could either be small or it could be big and fast. And with the passage of the CHIPS Act, it's going to be bigger, and we're going to build it out faster as a result. And we think that's good for our company. Even more important, it's good for our nation as we rebuild a resilient, globally balanced supply chain. And the events of just yesterday, getting the bill on the House floor, I think, is a very, very good sign for all that will get us across the line.
But even more so, right, we see acts in Europe that are gaining momentum as well in the EU CHIPS Act as well. And we've been quite involved in that domain, and we hope to see our expansion plans accelerate in Europe as well. So overall, all of these things will simply benefit the industry, but it certainly will accelerate our investment plans as it makes us more competitive globally to be for our products, but even more so for our foundry business as well. So thank you for that question.