Intel to invest $600 million in R&D in Israel

Sunday, 02. May 2021 22:02

Intel Corp. said on Sunday it will invest $600 million in research and development (R&D) in Israel.

During a visit to the Middle Eastern country, Intel CEO Pat Gelsinger noted that $400 million will go towards turning its MObileye unit in Jerusalem into an R&D campus, while $200 million will be invested in building a new "mega chip design" site in Haifa.

Intel acquired Mobileye in 2017 for %15.3 billion. Since then, the tech giant bought two more Israeli tech firms, Habana Labs for $2 billion and Moovit for $900 million.

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Breaking the News / NP