Intel to invest $33 billion to expand business in Germany

Intel intends to invest $33 billion to build two chip manufacturing facilities. The site was provided by Germany in Magdeburg.

Intel has already announced that Olaf Scholz has agreed on the intentions of the corporation seeking to expand its presence in Germany. The 33 billion investment was a record for the country.

According to sources, Berlin even planned €10 billion in co-financing. This assistance surprised Intel as well. After all, initially Germany offered 7 billion co-financing.

Intel ramps up billions of dollars of investments in the construction of new factories on three continents. The goal is to crush competitors from AMD, Nvidia, Samsung. The deal with Germany, the thematic press notes, has become the third major one in four days. Last Friday the plans for Poland were made public. A chip plant worth almost $5 billion will also be built here. Israel has not been ignored either, with plans to build a $25 billion chip facility there.

The German cabinet is investing billions of euros in subsidized projects, aiming to lure high-tech companies. After all, the supply of chips from Taiwan, South Korea is very fragile logistically.

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