May 17, 2022

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Intel will install a $9 billion chip factory in Italy

Intel will install a $9 billion chip factory in Italy

Two sources familiar with the matter told Reuters that Intel and Italy are in talks to set up an eight billion euro ($9 billion) chip factory.

An agreement of this size would guarantee Italy about 10% of the 80 billion euros the US company hopes to spend over the next decade in Europe on manufacturing capacity to help avoid future chip shortages.

Intel said he “Constructive investment talks with government leaders in various EU countries”But he declined to comment specifically on talks with Italian officials.

“We are encouraged by the many possibilities to support the EU’s digital agenda and semiconductor ambitions by 2030. Although current negotiations are ongoing and confidential, we plan to announce as soon as possible,” Intel said in a statement.

Chip makers are scrambling to boost production after massive demand for consumer electronics, such as smartphones and computers, as a result of the COVID-19 pandemic.

The sources said that if Rome and Intel reach an agreement, they will then proceed with the selection of a site for the station.

fountain: Reuters

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