Intel to invest US$3.5 billion for upgrading its New Mexico factory

Intel CEO Pat Kissinger appeared on CBS TV’s 60-minute tonight program. He discussed the issue of chip shortages on the show and said that Intel will announce this week its plan to invest $3.5 billion in an upgrade to the Rio Rancho plant in New Mexico, the United States.

Intel also issued a press release announcing that it will hold a press conference at 9 o’clock on May 3rd, Pacific time. The company previously announced that it will transition to the IDM 2.0 model. The Rio Rancho factory will conduct chip foundry business for third parties.

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At the same time, after the upgrade is completed, the output of its own chips will also be increased.  Earlier, Intel announced an investment worth US$20 billion to build its factory in Arizona and seek subsidies from the US government. Recently, Intel also announced a US$10 billion investment in Israel to build a chip foundry.

Intel’s competitors announced last month that they would invest 100 billion US dollars in R&D and production in the next three years. Intel confirmed that it will continue to provide enterprise users with Optane memory chips and DIMM memory. These products will be produced at the Rio Rancho plant.


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