Intel to invest billions of dollars in new factories to overcome chip shortage

by Ashish

Intel will invest billions of dollars in the US to build its chip factory, according to Intel’s CEO. Specifically, Intel is investing $ 3.5 billion to modernize its Rio Rancho plant in New Mexico. The company will announce this plan next week.

Intel previously announced it is moving to IDM 2.0. The Rio Rancho plant will manufacture chips for third parties. At the same time, after the completion of the upgrade, the production of its own microcircuits will also increase. Intel previously announced a $ 20 billion investment to build a plant in Arizona and seek grants from the US government.

On Sunday, Intel’s CEO paid a one-day visit to Israel to inspect the manufacturing facility under construction. He announced a $ 600 million investment plan in Israel to significantly expand the local R&D department and increase manufacturing capacity.

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Intel is investing $ 400 million in its subsidiary Mobileye to research and develop autonomous driving technologies. The company is headquartered in Jerusalem and was acquired by Intel at a high price of $ 15.3 billion in 2017. In the future, the company will develop fully autonomous delivery vehicles.

The company is investing an additional $ 200 million in Israel to build a new plant to manufacture next-generation microcircuits. In addition, Intel also said it will recruit around 1,000 locally this year.

In 2019, Intel acquired chipmaker Habana Labs for $ 2 billion. In 2020, the company also acquired the smart transportation company Moovit for $ 900 million.

(Via)

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