US tech giant Intel halts expansion plan for $25 billion Israel chip plant

US multinational corporation Intel has decided to put a pause on the expansion plans for a chip plant in Israel that would have amounted to an additional $15 billion dollars investment, Israeli financial news website Calcalist reported on Monday.

The company did not provide any specific reason for the decision amid rising speculations about whether it was linked to the ongoing war in Gaza.

“Israel continues to be one of our key global manufacturing and R&D sites and we remain fully committed to the region,” the company said in a statement.