Intel plans to invest US$3.5 billion to upgrade its New Mexico manufacturing site with capabilities to produce next-generation processors that make use of the chipmaker’s Foveros 3D packaging technology – a crucial change in how Intel will make chips in the future. The US$3.5 billion investment at Intel’s Rio Rancho, New Mexico, campus, announced Sunday during an interview with 60 Minutes and detailed in a Monday press conference, will create 700 high-tech jobs and 1,000 construction jobs while supporting 3,500 new jobs in the community, according to Intel. The company has begun planning activities and expects construction to begin in late 2021. The announcement was made as part of Intel’s new IDM 2.0 hybrid manufacturing strategy that involves the expansion of internal manufacturing capacity, increased outsourcing with third-party foundries and the establishment of the new Intel Foundry Services. The company has already announced a US$20 billion plan to create two new fabs in Arizona, and over the weekend it announced a US$600 expansion plan in Israel.