Italy and Intel intensifying talks over $9 Billion Chip Factory

Intel and Italy are intensifying talks over the $9 billion Euros investment in an advanced semiconductor packaging plant. The deal would secure about 10% of the 80 billion Euros that the US-based company is planning to spend in Europe on cutting-edge manufacturing to avoid any type of future semiconductors shortages.

The largest economy of the European Union, Germany is in the lead to land Intel Corp’s planned European ‘Megafab’ plant. Intel has also talked about constructive investment conversations with the leader of multiple European countries.

The company has also said the company is encouraged to support this digital agenda of the European Union. The company also said that even though the negotiations are confidential it will make an announcement as soon as possible. 

Chipmakers are trying to fulfill the output after the huge demand of consumer electronics resulting from work from home trend due to the pandemic.