Italy is spending billions to try and lure Intel to the EU
Italy is just one of the European countries currently courting the chip giant
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In an effort to lureIntelto its country, Italy has reportedly established a new $4.6bn fund to do so as the chipmaker is preparing to expand its European operations.
Just likeAmazondid with its second headquarters which almostended up in New York City, Intel has been shopping around in Europe in order to get countries to pledge more funds to help subsidize the construction of its new chip factories in the region.
So far, Germany, Italy and France have been named as potential locations for the company’s new super-fabs, factories and offices according toThe Register.
While the EU wants to have its own advanced chip manufacturing industry,Intelwants to establish at least two new leading-edge semiconductor factories in Europe and the company said in ablog postthat its plans for future investments could reach €80bn ($88bn) over the next decade.
Expanding chip production beyond Asia
One of the reasons that Italy could be home to Intel’s new European chip factories is due to the fact that the company is in the process ofacquiring Tower Semiconductorwhich currently has factories in Italy as well as in America and Japan. The company’s Italian facility is close to Milan where ST Microelectronics is also building a new factory that will start production later this year to make chips for applications like power management.
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By expanding its operations in Europe and the US where it hascommitted $20bnto build a fab in Ohio, Intel is trying to cut down its reliance on Asian countries. For the past several decades, semiconductor manufacturing has moved from America and Europe to Asia where 80 percent of the world’s chips are currently made.
During a recent investor day meeting, Intel CEOPatrick P. Gelsingerexplained that hopefully by the end of this decade, 30 percent of chips will be made in the US (up from 12%) and 20 percent will be made in Europe (up from 9%).
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Although Intel has yet to finalize which country its new European facilities will be built in, an official announcement could come any day now.
ViaThe Register
After working with the TechRadar Pro team for the last several years, Anthony is now the security and networking editor at Tom’s Guide where he covers everything from data breaches and ransomware gangs to the best way to cover your whole home or business with Wi-Fi. When not writing, you can find him tinkering with PCs and game consoles, managing cables and upgrading his smart home.
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