Intel picks Magdeburg, Germany for new European chip factory

FILE PHOTO: Visitors are seen at the Intel booth during the China Digital Entertainment Expo and Conference, also known as ChinaJoy, in Shanghai, China July 30, 2021. Picture taken July 30, 2021. REUTERS/Aly Song

BERLIN (Reuters) - Intel has chosen a location in the east German city of Magdeburg to build a multibillion-euro new chip factory in Europe and will make the decision public on March 4, a person familiar with matter told Reuters.

The company said in September it could invest as much as $95 billion in Europe over the next decade and announce the locations of two major new European chip fabrication plants by the end of 2021, but no announcement has been made.