Intel to invest $20B in two new Arizona chip factories

Tuesday, 23. March 2021 22:02

Intel Corp. announced on Tuesday the company would spend $20 billion to establish two new chip factories in Arizona's Ocotillo amid shortages in the semiconductor industry.

The $20 billion investment is expected to create over 3,000 permanent high-wage jobs, more than 3,000 construction jobs and around 15,000 local long-term jobs. "We are excited to be partnering with the state of Arizona and the Biden administration on incentives that spur this type of domestic investment," CEO Pat Gelsinger said.

During the company's global "Intel Unleashed: Engineering the Future" webcast, Gelsinger revealed Intel's plans to become a major provider of foundry capacity in the United States and Europe to serve customers globally. At the same event, Gelsinger said Intel would start collaborating with IBM on new research projects.

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Breaking the News / ND