Intel (INTC) invests 17 billion euros in the development of a mega-site for manufacturing chips in Germany

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Intel has announced that it will move forward with the development of a new semiconductor manufacturing plant in Magdeburg, Germany.

As we approach 2022 and delve deeper into the lingering semiconductor supply issue, one of the world’s largest processor designers is looking to bolster its supplies in the near future. Intel announced a major EU development investment that includes plans to move forward with a 17 billion euro semiconductor manufacturing mega-site in Magdeburg, Germany. The company is ready to move forward with the development of the new facility immediately.

Intel announced details of its investment and upcoming development in an Investor Relations press release on March 15, 2022. According to the announcement, Intel is investing a total of 33 billion euros in research, development and manufacturing of semiconductors throughout the EU. The investment will be used for development in France, Italy, Spain and Poland. However, the lion’s share of Intel’s investment will go to Germany, where the company is moving forward with a new €17 billion semiconductor manufacturing mega-site. The investment in this facility will be to help Intel meet the demands of foundry customers and Intel product customers worldwide. Construction of the site is expected to begin in early 2023.

Intel (INTC) stock has been declining throughout 2022 so far, but the recent EU investment announcement allowed the stock to stabilize for a few days.
Intel (INTC) stock has been declining throughout 2022 so far, but the recent EU investment announcement allowed the stock to stabilize for a few days.

Like any company, Intel has faced issues related to the current global semiconductor famine. The company has done everything possible to secure resources and continues to create new products despite the supply shortage, but the pressure is on to meet the growing demand for PC and electronic technology. With the move to developer Germany’s main new mega-chip manufacturing site, Intel is arguably making progress in ensuring it has the facilities in place to keep its products rolling and circulating. It also comes shortly after Intel dodged a $1.2 billion EU fine for anti-competitive practices.

As Intel is set to start building Germany’s new semiconductor manufacturing megasite in 2023, stay tuned for more news and information about Intel and other technologies, right here on Shacknews.

News editor-in-chief

TJ Denzer is a gamer and writer with a lifelong passion for games. He found his way to Shacknews’ roster in late 2019 and has been working his way to Senior News Editor ever since. In between news coverage, he also helps out with livestreaming projects like Indie-licious focused on indie gaming, Shacknews Stimulus Games and Shacknews Dump. You can reach him at [email protected] and also find him on Twitter @JohnnyChugs.

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