Intel to spend US$20bil on new US chip plants

Gelsinger announced the investment during a webcast about the company’s strategy, as it faces pressure to come up with ways to fend off fierce competition. — AFP

SAN FRANCISCO: US chip titan Intel said on March 23 it will invest US$20bil (RM82.66bil) in building two new plants in Arizona as part of a plan to ramp up production in the United States and Europe.

The move comes as a global chip shortage has countries and companies in those regions looking to reduce reliance on plants in Asia for semiconductors, which are used in a growing array of products such as cars.