Intel reportedly nearing $5 billion deal with Italy to build chip plant
Intel will reportedly build a chip plant in Italy following a $5 billion partnership, possibly in Piedmont or Veneto.
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What you need to know
Intel will likely build a chip factory in Italy following a $5 billion deal with the country, according to a recent report byReuters. Sources told the outlet that Intel will create a plant in Italy as part of its overarching$88 billion effort to diversify its supply chain. At the moment, Intel and other chip manufacturers rely on Asian manufacturing. A $5 billion deal with Italy would help Intel spread its manufacturing load across another region.
Earlier this year, news broke that Intel would heavily invest in the European Union when it comes to semiconductor manufacturing. Italy is just one of the planned countries that Intel will expand in, alongside Germany, Poland, and Spain.
Reuters spoke with multiple sources that chose to remain anonymous about the impending deal between Intel and Italy. According to the outlet, Prime Minister Mario Draghi aimed to have an agreement in place before the end of August. A snap national election will be held in Italy on September 25, 2022.
Rome would fund up to 40% of Intel’s investment in Italy, according to Reuters' sources. The investment in Italy was initially expected to be $5 billion but will likely rise.
The northern regions of Piedmont and Veneto are reportedly among the finalists for the chip plant. The Lombardy, Apulia, and Sicily regions had been considered initially, according to Reuters.
A similar investment was announced regarding achip fab in Magdeburg, Germanyearlier this year.
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Sean Endicott is a tech journalist at Windows Central, specializing in Windows, Microsoft software, AI, and PCs. He’s covered major launches, from Windows 10 and 11 to the rise of AI tools like ChatGPT. Sean’s journey began with the Lumia 740, leading to strong ties with app developers. Outside writing, he coaches American football, utilizing Microsoft services to manage his team. He studied broadcast journalism at Nottingham Trent University and is active on X @SeanEndicott_ and Threads @sean_endicott_.
