Stay updated with breaking news from Daniel Benatar. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
The Israeli government has approved a $3.2 billion grant for Intel’s ambitious plan to construct a $25 billion chip plant in southern Israel.
JERUSALEM — Israel's government agreed to give Intel a US$3.2 billion (S$4.2 billion) grant for a new US$25 billion chip plant it plans to build in southern Israel, both sides said on Tuesday (Dec 26), in what is the largest investment ever by a company in Israel. The news comes as Israel remains locked in a war with Palestinian militant...
Intel’s expansion aims to generate high-quality jobs in remote areas, boost productivity, and contribute substantially to the growth of the Israeli economy. Read more.
The investment is the largest ever by a company in Israel
Shares of Intel, which has a bit less than 10% of its global workforce in Israel, opened up 2.73% at $49.28 on Nasdaq.