Intel to Build Leading-Edge Chip Factory in Germany
A $17 Billion Investment
WEB BERLIN June 19 2023
Intel and the German federal government have signed a revised letter of intent for Intel's planned leading-edge wafer fabrication. Announced in March 2022, the $17 billion project will create two semiconductor fabs in Magdeburg, Germany, and is part of Intel's broader efforts to create a more balanced and resilient supply chain. In the initial phase, Intel plans to develop two first-of-their-kind semiconductor fabs in Magdeburg. Here, Intel will begin its first high-volume production of Intel 4 technology, marking Intel's first use of high-volume EUV technology and the company's continued commitment to manufacturing leadership. The project is expected to create thousands of jobs in Magdeburg and the surrounding area, and is a major investment in Germany's semiconductor industry. It is also a sign of Intel's continued commitment to Europe, where the company has been investing in research, development, and manufacturing for decades. "This is a historic day for Intel and for Germany," said Intel CEO Pat Gelsinger. "This investment will help us to create a more balanced and resilient supply chain, and it will also help to strengthen Germany's position as a leader in the semiconductor industry."
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