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Intel Earmarks $3.5B For New Mexico Site Upgrade

Intel Earmarks $3.5B For New Mexico Site Upgrade
  • Intel Corp (NASDAQ: INTC) plans to spend $3.5 billion for the up-gradation of a chip manufacturing plant in Rio Rancho, New Mexico, CNET reports.
  • The spending, along with $20 billion set aside for two new facilities in Arizona marked Intel’s U.S. chip manufacturing drive to regain manufacturing technology leadership position.
  • Intel CEO Pat Gelsinger has been requesting chip building subsidies from U.S. and Europe, Bloomberg reports.
  • Gelsinger emphasized the concentration of manufacturing of advanced chips in Asia as being a security and economic risk.
  • Taiwan Semiconductor Manufacturing Co Ltd (NYSE: TSM) usurped Intel’s dominant chip building position lately. 
  • Gelsinger remains focused on investment in new chipmaking plants or fabs to recover its lost position. Intel also plans to initiate third-party chip manufacturing and outsource some of its production to other foundries.
  • Price action: INTC shares traded lower by 0.50% at $57.24 on the last check Monday.

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Posted-In: Briefs New MexicoNews Tech Media

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