Intel has picked Germany as the site for a huge new chipmaking complex, giving the first details of a $88 billion investment drive across Europe, which is striving to cut its reliance on imports and ease a supply crunch for manufacturers.
Intel's announcement comes after the European Commission last month set out plans to encourage chip manufacturing in the European Union, with proposed new legislation to ease state aid rules for chip factories and enable $17 billion in additional public and private investment.Chipmakers are looking to build more factories to make advanced chips for use in premium smartphones like Apple's latest iPhones that use chips with 5-nanometer technology. A nanometer is just several atoms wide.
Visitors are seen at the Intel booth during the China Digital Entertainment Expo and Conference, also known as ChinaJoy, in Shanghai, China July 30, 2021. Picture taken July 30, 2021. REUTERS/Aly Song The company will invest an additional 12 billion euros in an existing Irish facility which will take its total investment in Ireland to more than 30 billion euros.
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