Business

Intel to spend $20b on new plants


SAN FRANSICO:

US chip titan Intel said on Tuesday it will invest $20 billion in building two new plants in Arizona as part of a plan to ramp up production in the United States and Europe. The move comes as a global chip shortage has countries and companies in those regions looking to reduce reliance on plants in Asia for semiconductors, which are used in a growing array of products such as cars. Intel Chief Executive Pat Gelsinger announced the investment during a webcast about the company’s strategy, as it faces pressure to come up with bold ways to fend off fierce competition. “Intel is the only company with the depth and breadth of software, silicon and platforms, packaging, and process with at-scale manufacturing customers can depend on for their next-generation innovations,” Gelsinger said. He stressed that Intel intends to continue doing most of its chip making at its own plants while also building on relationships with third-party foundries for some of its product line.

Top 5 Android Smartphones In 2021 Review

Published in The Express Tribune, March 25th, 2021.

Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.

Related Articles

Back to top button