Santa Clara chipmaker Intel to invest up to €80bn in boosting EU chip capacity

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Santa Clara chipmaker Intel to invest up to €80bn in boosting EU chip capacity

Intel Corp., the Santa Clara, California-headquartered semiconductor industry giant, had said late on Tuesday that the American multinational tech corporation would likely to invest a jawdropping €80 billion in Europe over next decade in a bid to ramp up the region’s chipmaking capacity, while Intel also had pledged to set off a semiconductor plant in Ireland particularly engineered for automakers.

On top of that, speaking at the Munich IAA Auto show, the first major automakers’ event since onset of the pandemic outbreak, Intel Chief Executive Pat Gelsinger was quoted saying that the Silicon Valley’s scintillating chipmaker that still develops and manufactures its own chips rather than a latest cohort of a push towards outsourcers, could announce locations of its two new European semiconductor plants as early as by end-2021.

Nonetheless, industry analysts were whispering that Germany and France could be two possible European destinations for Intel Corp, while Poland’s chances could not be ruled out yet, but, the American multinational chipmaker already had a presence out there, suggested analysts.

Intel to invest a whopping €80 billion in Europe over next decade

Meanwhile, stressing that the chipmaking giant, which had been facing off a sharp headwind in market shares since Apple Inc had turned to its own chipmaking technology for MacBook, Gelsinger said in the Munich IAA Auto Show, “The aim was for a "total project of 80 billion euros ($94.77 billion) over the next decade that would be a catalyst for the semiconductor industry...

a catalyst for the entire technology industry”. More importantly, latest remarks from Intel Corp Chief Gelsinger came against a baleful backdrop in global semiconductor industry, as a steep shortage in chips was reportedly spanned into smartphone industry after dealing a hefty blow to automakers around the globe while prompting a number of heavy-weight carmakers like of Tesla Inc., GM, Ford Motor Co alongside Hyundai among others to trim their annual outputs.