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Intel Corp. confirmed today it’s planning to invest $600 million to expand its research and development facilities in Israel, in addition to the $10 billion it has already committed toward building a new chip manufacturing plant in the country.
The announcement came from Intel Chief Executive Pat Gelsinger during a one-day visit to the country as part of a European tour that also included trips to Belgium and Germany.
Update: And on Monday, Intel also announced it will spend $3.5 billion to upgrade chipmaking plants in Rio Rancho, New Mexico. The company on Sunday had confirmed the plan that was first reported during a 60 Minutes interview with Gelsinger.
Intel commits $600M to build new chip R&D centers in Israel
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Intel Corp. confirmed today it’s planning to invest $600 million to expand its research and development facilities in Israel, in addition to the $10 billion it has already committed toward building a new chip manufacturing plant in the country.
The announcement came from Intel Chief Executive Pat Gelsinger during a one-day visit to the country as part of a European tour that also included trips to Belgium and Germany.
Gelsinger revealed Intel will invest $400 million to create a new R&D campus at its Mobileye unit in Jerusalem, which develops chips and other technologies for self-driving cars. Intel acquired Mobileye NV back in 2017 for $15.3 billion, and the company said today the unit is a “major growth business” that it deems to be a “key part” of its future.