Intel is investing $ 3.5 billion in facilities in the state of New Mexico to increase production and provide casting services to third-party designers.
Semiconductor giants are also increasing their investments nowadays, as the chip crisis is getting deeper. Promising the automotive industry to be ready for chip production within 6-8 months, Intel is starting to expand its factories.
3.5 billion dollars investment
Intel boss Pat Kissinger announced in a statement that it will invest $ 3.5 billion in Rio Rancho chip production facilities in the state of New Mexico. The investment plan will be detailed at an official event next week.
Third-party customers will be served in the facilities to be expanded within the scope of the project, which is defined as IDM 2.0 and aims to establish a more efficient casting network. In addition, Intel will continue to produce some of its own chips.
Intel plans to invest $ 20 billion in new manufacturing facilities and technologies. For this, he wants to take advantage of the financing scope of the US government plan. Intel is also investing $ 600 million in its operations in Israel. 400 million dollars of this will be reserved for Mobileye affiliate and 200 million dollars will be provided to other facilities.