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Intel unveils ‘historic’ €33 billion investment in EU chipmaking – POLITICO

US microchip giant Intel is investing tens of billions of euros in Germany, Italy, France and other European countries, in a boon for European policymakers’ ambition to catch up with global microchip production.

The project “will create a world-class chip ecosystem,” Intel CEO Pat Gelsinger said in an online announcement on Tuesday, adding that the “historic investment” would “restore” Europe’s leadership in the sector.

“The world has an insatiable demand for semiconductors, or chips,” Gelsinger said, adding that “recent shortages have reminded us of the risks of being too dependent” on a limited number of large-scale manufacturing sites. .

Intel’s pledge is a win for EU policymakers as the bloc seeks to double its market value across the entire global semiconductor supply chain by 2030. The announcement of the company is “a first major achievement under EU chip law,” said European Commission President Ursula von der Leyen. in a video message.

The bloc launched its legislative initiative in February to set up funding schemes and adapt competition rules for the sector. Convincing one of the three major chipmakers – TSMC, Intel and Samsung – to set up a “mega fab” manufacturing site in Europe was a key part of the EU’s strategy to catch up with global microchip production.

This goal will be achieved, as Intel has pledged to invest 17 billion euros in a new mega-factory in Germany to produce cutting-edge semiconductors.

The German project – which Intel calls “the silicon junction” – will include two units to produce the high-end chips and will be located in the central German city of Magdeburg. It will create 7,000 construction jobs as it is built and 3,000 jobs for chip engineers in the longer term, Gelsinger said.

France will become Intel’s “European headquarters for high performance computing and artificial intelligence design capabilities”, the company announced. He added that he was increasing his investments in Italy, where he wanted to create 1,500 jobs at Intel and was in the process of acquiring microchip company Tower Semiconductor. Other investments would go to Poland and Spain, Gelsinger said.

“All of these investments will further strengthen Intel’s relationships with research institutes… across Europe,” the chief executive said, estimating that the company would invest more than €33 billion in total across the bloc.




Politico

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