The global chip crisis has recently negatively affected almost every company that manufactures on technological products. As such, chip manufacturers began to look for new investment areas in order to expand their production lines. Intel, one of the world’s largest chip manufacturers, announced in the past months that they want to establish a giant budget production factory in Europe in order to increase their production.
Italy allocated a budget of 4.6 billion dollars for Intel’s factories
After Intel announced that it would establish a chip manufacturing factory in Europe, many countries started negotiations to persuade the company. Intel, which wants to open at least two new generation chip factories, has allocated approximately 90 billion dollars for these projects for the next 10 years. As such, Italy, one of the countries that wanted to persuade for factory production, opened its mouth.
Italy allocated a budget of 4.6 billion dollars to persuade Intel. The chipmaker is in talks in Europe to raise more funds to subsidize the construction of new chip factories. Intel, which has met with many countries so far, seems to have received the most attractive offer from Italy.
Intel wants to reduce dependency on Asian countries with these moves. To this end, it expanded its operations in Europe and the USA. So much so that the importance of chip production has increased considerably in the 21st century, and Asian factories make up a large slice of this production line, almost 80 percent.
The Italian administration, which gives importance to chip production, keeps its relations tight. Because Italy is also in talks with French-Italian STMicroelectronics, Taiwan-controlled MEMC Electronic Materials Inc and Israel Tower Semiconductor (TSEM.TA), which is planned to be acquired by Intel, to support local chip production.
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