According to Intel CEO Pat Kissinger, the company is investing billions in the US for its chip manufacturing plant. In particular, Intel is investing $3,5 billion to modernize the Rio Rancho plant in New Mexico. The company will announce this plan next week. Intel also issued a press release announcing a press conference at 9 a.m. PT on May 3.
Earlier, Intel announced the transition to the IDM 2.0 model. The Rio Rancho plant will manufacture chips for third parties. At the same time, after the upgrade is completed, the production of proprietary chips will also increase. Earlier, Intel announced an investment worth 20 billion dollars to build its factory in Arizona and receive subsidies from the US government.
Intel will invest $600 million in Israel to expand its chip factory
Intel's CEO made a one-day visit to Israel on Sunday to inspect factory facilities under construction. He announced a $600 million investment plan in Israel to significantly expand the local research and development department and increase production capacity.
Intel is investing $400 million in its subsidiary Mobileye to research and develop autonomous driving technologies. The company is headquartered in Jerusalem and was acquired by Intel for a whopping $15,3 billion in 2017. In the future, it will develop autonomous vehicles.
Kissinger said the last time he came to Israel was 40 years ago and it was great to see the Israel Department grow from 4 employees at the beginning to more than 14 employees today. The Israeli department of Intel is the embodiment of this global company, where a lot of research, development and innovation has been carried out.
The company is investing another $200 million in the construction of a new factory for the production of next-generation chips. In addition, Intel also said it will hire about 1000 people in the field this year.
Intel acquired chip maker Habana Labs for $2 billion in 2019. The company also acquired the intelligent transportation company Moovit for $900 million in 2020.
Kissinger also noted: “We continue to invest in Israel, expand research and development and improve production capabilities. Together with the acquisition of the world's leading providers of autonomous driving solutions, Mobileye, Moovit and Habana Labs, this will enable Intel to develop in Israel in the next few decades, full of vitality and hope."
