Intel to Build $33 Billion Chip Factories in Germany
Investment in European Chip Production
Revamped Letter of Intent Signed with German Government
WEB BERLIN June 19 2023 Intel and the German federal government have signed a revised letter of intent for Intels with Intels with Intels european expansion plans. The semiconductor giant will invest more than 30 billion euros (33 billion) to develop two chip-making plants in Magdeburg, Saxony-Anhalt, Germany. The move is part of Intels strategy to expand its manufacturing capacity and bolster Europes balanced and resilient supply chain.
State-of-the-Art Technology
In the initial phase, Intel plans to develop two first-of-their-kind semiconductor fabs in Magdeburg. These facilities will feature the latest semiconductor manufacturing technology, including Intels 4 technology, which marks the first use of extreme ultraviolet lithography (EUV) in the companys high-volume production.
Job Creation and Economic Development
The Intel investment is expected to create thousands of jobs in Magdeburg and across Germany. The company will also collaborate with local universities and research institutions to support the development of a skilled workforce. The project is seen as a significant boost to the regions economy and will further establish Germany as a hub for semiconductor manufacturing.
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