Intel to build $25 Billion Chip FAB in Israel

Israel's government has agreed to grant Intel $3.2 billion for a new $25 billion chip plant in southern Israel[1]. This investment is the largest ever by a company in Israel and is expected to create several thousand jobs[2]. The new plant, called Fab 38, is planned to open in 2028 and operate through 2035[1]. It will be located in Kiryat Gat, alongside Intel's existing manufacturing plant that produces Intel 7 technology, or 10-nanometer chips[2].

The new chip plant is part of Intel's efforts to restore its dominance in the semiconductor industry and is an "important part of Intel's strategy to produce products for both Intel and essential customers"[3]. The plant will be able to produce some of the most advanced chips, meeting the needs of companies like Apple and Nvidia[3]. Intel has already invested billions in building factories across three continents, including the new Israeli plant, to expand its global presence[4].

The Israeli government's investment in Intel is a significant show of support for the company and the country's growing high-tech sector. Intel has been in Israel since 1974 and currently operates four development and production sites in the country, employing nearly 12,000 people directly and an additional 42,000 indirectly[2].

Citations:

[1] https://www.reuters.com/technology/intel-get-32-billion-government-grant-new-25-billion-israel-chip-plant-2023-12-26/

[2] https://www.cnbc.com/2023/12/26/israel-grants-intel-3point2-billion-for-new-25-billion-chip-plant.html

[3] https://www.calcalistech.com/ctechnews/article/bytewmuw6

[4] https://www.aljazeera.com/news/2023/12/26/israel-grants-intel-3-2bn-for-largest-ever-25bn-chip-plant-investment

[5] https://www.cnn.com/2023/12/26/tech/intel-israel-investment/index.html