Intel spends $33 billion in Germany in landmark expansion

[hist78]

Move marks biggest foreign investment in Germany in history.

Intel to get 10 bln euros in subsidies from Germany.

Move highlights Berlin's efforts to attract foreign investment.

Tens of thousands of jobs to be created as a result

"Today's agreement is an important step for Germany as a high-tech production location – and for our resilience," Scholz said after Monday's signing.

"With this investment, we are catching up technologically with the world's best and expanding our own capacities for the ecosystem development and production of microchips."

The German deal marks Intel's third big investment in four days. It unveiled plans on Friday for a $4.6 billion chip plant in Poland, another European Union member, while Israel said on Sunday that Intel would spend $25 billion on a factory there.

Intel spends $33 billion in Germany in landmark expansion

Intel will spend more than 30 billion euros ($33 billion) to develop two chip-making plants in Magdeburg as part of its expansion push in Europe, a deal Chancellor Olaf Scholz hailed on Monday as Germany's biggest ever foreign investment.

www.reuters.com

 

[Daniel Nenni]

You have to respect Pat Gelsinger's optimism! Do we know what markets this targets? Automotive? AI? Datacenter? Client? I would rather work in Germany than AZ, absolutely.

 

[delong.height]

You have to respect Pat Gelsinger's optimism! Do we know what markets this targets? Automotive? AI? Datacenter? Client? I would rather work in Germany than AZ, absolutely.

I recall seeing next gen of process node after 18A somewhere in a news source

 

[hist78]

You have to respect Pat Gelsinger's optimism! Do we know what markets this targets? Automotive? AI? Datacenter? Client? I would rather work in Germany than AZ, absolutely.

I have to assume it's a leading edge fab because 1. Intel doesn't have a large and internal need for mature nodes. 2. Intel Foundry Service (IFS) is new. IFS' customers probably do not like to move their old mature and low price products to a new IFS environment.

 

[Daniel Nenni]

Intel, German Government Agree on Increased Scope for Wafer Fabrication Site in Magdeburg

Intel and the German federal government have signed a revised letter of intent for Intel’s planned leading-edge wafer fabrication site in Magdeburg.

www.businesswire.com

 

[lilo777]

Intel is planning to spend a lot of money and a lot of it is abroad (i.e. no funds from CHIPS act for that). I wonder if they are going to use some investment partners ala what they did with Brookfield Asset Management for funding AZ FABs.