Intel To Invest $25 Billion in Israel After Winning Incentives

Intel confirmed it will invest a total of $25 billion in Israel after securing $3.2 billion in incentives from the country's government. From a report: The outlay, announced by the Israeli government in June and unconfirmed by Intel until now, will go toward an expansion of the company's wafer fabrication site in Kiryat Gat, south of Tel Aviv. The incentives amount to 12.8% of Intel's planned investment. "The expansion plan for the Kiryat Gat site is an important part of Intel's efforts to foster a more resilient global supply chain, alongside the company's ongoing and planned manufacturing investments in Europe and the US," Intel said in a statement Tuesday. Intel is among chipmakers diversifying manufacturing outside of Asia, which dominates chip production. The semiconductor pioneer is trying to restore its technological heft after being overtaken by rivals including Nvidia and Taiwan Semiconductor Manufacturing Co.

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