Israel grants Intel a $3.2 billion grant for a new $25 billion chip plant, the largest-ever investment by a company in Israel.
The plant in Kiryat Gat, near Gaza, reinforces Intel's global supply chain and resilience efforts.
Kiryat Gat, Gaza / Photo: wikipedia.org
Intel's move is part of a broader strategy by CEO Pat Gelsinger to compete with rivals AMD, Nvidia, and Samsung.
CEO Pat Gelsinger / flickr
Intel plans a $33 billion investment in two chip-making plants in Magdeburg, part of a multi-billion-dollar investment drive in Europe.
Magdeburg Furstenwall pomnik-Wikimedia Commons
In 2022, Intel announced a $100 billion investment for a chip-making complex in Ohio, contributing to the global chip industry's growth.
Cincinnati Ohio-Wikimedia Commons
Israel sees Intel's investment as a significant show of confidence, with direct fiscal benefits surpassing the state's grant.
The new facility is expected to create thousands of jobs, and Intel commits to buying $16.6 billion worth of goods and services from Israeli suppliers.
Intel, present in Israel since 1974, operates multiple sites, employing around 54,000 people directly and indirectly.
Intel's Fab 38 plant, set to open in 2028, aims to advance technology, though specific details on the produced technology are undisclosed.
Intel FAB 38 | Custom Cooling Towers | ywct.com
The investment aligns with Israel's ongoing conflict and is viewed as an investment in progress and righteous values.