Italy and Intel: $5 billion deal to build a chip factory

Deepak Gupta August 7, 2022
Updated 2022/08/07 at 12:52 PM

If you’ve been paying attention to the latest tech news, especially about the hardware sector, then you’ve probably noticed that the chip business has been booming. Manufacturers want to bet heavily on this market and, also supported by government aid, news about promotion and investment in it has been frequent.

In this sense, the latest information reveals that Italy and the giant Intel have now reached an agreement of 5 billion dollars for the construction of a chip factory.

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There have been more and more frequent reports involving plans for the construction of new chip factories, namely in the United States and also in Europe. The Chip Laws ended up giving a strong boost to the bet in this field and, as such, manufacturers are now looking to invest these subsidies in markets where they can also reduce dependence on China and Taiwan.

In this sense, we recently informed that France would also manufacture chips and, as such, Europe could end its technological dependence. But there is now one more strong European country where chips will start to be produced.

Italy and Intel together to build a chip factory

According to information revealed by the Reuters, Italy is about to close a deal with an initial value of 5 billion dollars with Intel. According to what some sources familiar with the matter revealed to the agency, this deal aims to build an assembly and packaging factory for advanced semiconductors in the country.

This investment by the manufacturer in Italy is part of a plan announced by it earlier this year, in which Intel intends to invest 88 billion dollars in the construction of manufacturing facilities across Europe.

The sources, who chose to remain anonymous, added that the government of Italian Prime Minister Mario Draghi is working to reach an agreement by the end of August, before the early elections that take place on 25 September. In addition, there is also the indication that Italy is prepared to finance up to 40% of Intel's total investment in the country, which should end up being above 5 billion dollars as the project progresses.

Regarding the locations, the sources indicate that there is a possibility that the construction will be located in Piedmont and/or Veneto, although the regions of Lombardy, Apulia and Sicily have also been considered.

For now, both Mario Draghi's department and Intel have declined to comment on this matter.

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