Intel to inject up to €80bn into its chip making capabilities amid drought
Technology heavyweight Intel is looking to invest as much as €80bn into shifting its focus onto bolstering its chip making capacity, amid a global shortage.
Semi-conductor chip supplies, which are used in a wide variety of electrical products, have dwindled during the pandemic.
But Intel’s boss, Pat Gelsinger, said the company is due to announce the locations of two new European chip making plants by the end of the year.
Speaking at Munich’s IAA auto show, Gelsinger explained the firm’s aim was for a “total project of €80bn over the next decade that would be a catalyst for the semiconductor industry… a catalyst for the entire technology industry.”
Intel earlier this year said that it would invest $20bn into its manufacturing plants in the US in order to enhanced its production capacity.
In July, reports that Intel was in talks to buy semi-conductor chipmaker Global Foundries for £21.7bn swirled, but Global denied that it was in talks over a potential purchase.
For most of this year, carmakers in particular have suffered from the supply crisis, with many being forced to curb production.
However, such heightened demand has been good news for firms like Intel, which is the biggest producer of processor chips for PCs.