Intel unveils ‘landmark’ €33B investment in EU chipmaking
U.S. microchips big Intel is investing tens of billions of euros in Germany, Italy, France and different European international locations, in a boon for European policymakers’ ambition to compensate for international microchips manufacturing.
The challenge will “create a world-class chip ecosystem,” Intel’s Chief Govt Officer Pat Gelsinger mentioned in a web-based announcement Tuesday, including that the “landmark funding” would “restore” Europe’s management within the sector.
“The world has an insatiable demand for semiconductors, or chips,” Gelsinger mentioned, including that “the latest shortages have reminded us of the dangers of being too dependent” on a restricted variety of large-scale manufacturing websites.
Intel’s pledge is a win for EU policymakers because the bloc seeks to double its market worth throughout the worldwide semiconductor provide chain by 2030. The corporate’s announcement is “a primary main achievement underneath the EU Chips Act,” European Fee President Ursula von der Leyen mentioned in a video message.
The bloc in February launched its legislative initiative to arrange funding schemes and accommodate competitors guidelines for the sector. Convincing one of many three main chips producers — TSMC, Intel and Samsung — to arrange a “mega fab” manufacturing website in Europe was a key part of the EU’s technique to compensate for international microchips manufacturing.
That goal will likely be met, as Intel pledged to take a position €17 billion in a brand new mega fab in Germany to provide cutting-edge semiconductors.
The German challenge — which Intel is looking “the Silicon Junction” — will embrace two items to provide the high-end chips and be positioned within the central German metropolis of Magdeburg. It should create 7,000 development jobs because it’s constructed and three,000 jobs for chips engineers in the long term, Gelsinger mentioned.
France will turn out to be Intel’s “European headquarters for top efficiency computing and synthetic intelligence design capabilities,” the corporate mentioned. It added that it’s growing its funding in Italy, the place it desires to create 1,500 Intel jobs and is in the process of acquiring microchips company Tower Semiconductor. Different investments would go to Poland and Spain, Gelsinger mentioned.
“All these investments will additional strengthen Intel’s relationship with analysis institutes … throughout Europe,” the chief government mentioned, estimating that the corporate in whole would make investments greater than €33 billion throughout the bloc.
