Intel will make a giant investment in Europe in order to realize an initial solution to chip shortage that hits more and more industries.
Pat Gelsinger, announcing that Intel has big plans for Europe. Specifically, the company plans to invest up to $80 billion in two new chip factories, which are part of a multi-year strategy to reduce production dependency on China and other east Asian regions.
“This new era of continuous demand for semiconductors needs bold thoughts. As Intel’s CEO, I have the privilege of tracking the movements of 116,000 employees in a vast ecosystem of processor design and production, with the goal of meeting demand.”
Gelsinger plans to lead Intel to produce more efficient processors in the coming decade, recently announcing a rapid growth in its own U.S. factories as well. For Europe, Intel Foundry Services has already begun discussions with several of its major customers, as well as car companies, who have several production problems due to a lack of components.
Finally, he added that Intel will block the production line at the Irish plant exclusively for the manufacture of chip cars.