Intel is planning to invest $20 billion toward a new chip factory in the EU to boost semiconductor production and expand its manufacturing capabilities beyond the U.S., Ireland, Israel, and China. According to the latest report from the Financial Times, Intel CEO Pat Gelsinger recently met up with French president Emmanuel Macron and Italian prime minister Mario Draghi to discuss the global chip shortage and gather support for the project, which may end up being spread across several EU member states depending on whichever offers the most favorable ecosystem, locations, and monetary benefit for Intel. Intel aims to produce 20 percent of the world’s semiconductors through its European fabs by 2030.
Great meeting between our Intel CEO, Pat Gelsinger, and French President Emmanuel Macron. Both are committed to rebalance the semiconductor manufacturing landscape to make supply chains more resilient pic.twitter.com/M33hh3st1c
— Christin Eisenschmid (@CEisenschmid) June 28, 2021
As well as financial support, Intel is looking for a site of roughly 1,000 acres with developed infrastructure, which would be capable of supporting up to eight chip fabrication facilities, known as fabs, and which has access to talent. Intel has looked at countries including Germany, the Netherlands, France and Belgium to explore potential for a factory. A decision is expected by the end of the year.
Sources: Financial Times, TechPowerUp