Intel Corp said on Sunday it will invest another $600 million in Israel to expand its research and development (R&D) and confirmed it was spending $10 billion on a new chip plant.<\/p>\n
The announcement was made during a one-day visit to Israel by Intel Chief Executive Pat Gelsinger as part of a European tour that included Germany and Belgium last week.<\/p>\n
Intel is investing $400 million to turn its Mobileye unit headquartered in Jerusalem into an R&D campus for developing self-driving car technologies.<\/p>\n
Another $200 million will be invested in building an R&D centre, called IDC12, in the northern port city of Haifa next to its current development centre.<\/p>\n
Intel said the “mega chip design” facility will have a capacity of 6,000 employees.<\/p>\n
Gelsinger, on his first European tour since taking charge of the company in February, in a statement issued on Sunday predicted “a vibrant future for Intel and Israel for decades to come”.<\/p>\n
In recent years, Intel has bought three Israeli tech companies – Mobileye in 2017 for more than $15 billion, artificial intelligence chipmaker Habana in 2019 for $2 billion and Moovit a year ago for $1 billion.<\/p>\n
During his brief visit, Gelsinger met with Intel and Mobileye management and Israeli Prime Minister Benjamin Netanyahu.<\/p>\n
Israel’s Finance Ministry in early 2019 said Intel would get a $1 billion grant to build an $11 billion chip plant, although at the time Intel would not confirm the amount.<\/p>\n
On Sunday, Intel said investment would be $10 billion and the first phase of construction has begun.<\/p>\n
Its current Fab 28 plant at the company’s Kiryat Gat site produces 10 nanometre (nm) chips.<\/p>\n
Intel has not disclosed whether the new plant will produce smaller chips, which can increase efficiency, but in March it said it was building two 7 nm chip plants in Arizona for some $20 billion.<\/p>\n
Intel Israel’s exports grew to a record $8 billion in 2020 from $6.6 billion in 2019, accounting for 14% of total high-tech exports and 2% of Israel’s GDP.<\/p>\n
Intel is the largest employer of Israel’s high tech industry with nearly 14,000 workers.<\/p>\n","protected":false},"excerpt":{"rendered":"
Intel Corp said on Sunday it will invest another $600 million in Israel to expand its research and development (R&D) and confirmed it was spending $10 billion on a new chip plant. The announcement was made during a one-day visit to Israel by Intel Chief Executive Pat Gelsinger as part of a European tour that included Germany and Belgium last week. Intel is investing $400 million to turn its Mobileye unit headquartered in Jerusalem into an R&D campus for developing self-driving car technologies. Another $200 million will be invested in building an R&D centre, called IDC12, in the northern port […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7],"tags":[],"class_list":["post-798395","post","type-post","status-publish","format-standard","hentry","category-it-2"],"acf":[],"_links":{"self":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/798395","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/comments?post=798395"}],"version-history":[{"count":0,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/798395\/revisions"}],"wp:attachment":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/media?parent=798395"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/categories?post=798395"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/tags?post=798395"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}