Money
Intel turns to Europe for $36 billion chip making mega factory
The EU is about to get a giant chipmaking boost as the world experiences a global chip shortage
Intel is pouring $36 billion dollars into making chips in Europe
The Santa Clara chipmaker said it will build a new “mega factory” in Germany as part of the investment… which is also being subsidized with public funding.
The firm said Germany is an ideal place to establish the new “Silicon Junction” mega-site because of the talent and infrastructure on offer.
This comes as manufacturers see their stocks of semiconductors plunge amid the global chip shortage.
The shortage has resulted in huge disruptions for major industries.
Millions of products – cars, washing machines, smartphones and more – rely on these chips, also known as semiconductors.
Intel will also create a new design hub in France and invest in manufacturing in Ireland, Italy, Poland and Spain
Construction is set to begin in the first half of next year