Intel CEO Strives $10 Billion Subsidies To Construct A Chip Factory In Europe

Intel CEO Strives _10 Billion Subsidies to Construct a Chip Factory in Europe

Intel’s CEO was quoted as saying lately that the company expects 8 billion euros ($9.7 billion) in public subsidies to develop a semiconductor factory in Europe, as the country tries to restrict its dependence on imports despite a supply shortage.

As Intel continues a multibillion-dollar bid to battle with Asian competitors in contract production, this is the first time Pat Gelsinger has publicly stated how much state funding he would like.

In an interview with Politico Europe, Gelsinger said that what they are calling from both the US and European governments is to make it competitive for them to do it here relative to Asia.

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