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Intel plans to announce whether it will build another fab in Europe before the end of the year, CEO Pat Gelsinger said during a panel discussion at CNBC’s Evolve conference. If the chip factory doesn’t land in Europe, it will be built in the US. Earlier this year, the processor maker already announced the construction of a 20 billion dollar fab in Arizona.
It’s not clear which exact European locations Intel is considering. Based on an interview Gelsinger gave to Handelsblatt, Germany seems to be the front-runner, though he said that the Benelux countries are options too. Intel will require billions in subsidies, a large part of which will have to be provided by the national government. Some European funds, such as the ‘corona relief funds,’ have been earmarked for digital investments, though.
The European Commission is also trying to persuade TSMC and, presumably, Samsung to establish manufacturing facilities in Europe.