Intel CEO has meeting with EU officials -- new chip plant plans?

Posted on Thursday, April 22 2021 @ 8:35 CEST by Thomas De Maesschalck
It's not a secret that both the US and the EU want a larger share of the global semiconductor market. As things stand right now, most production is concentrated in East-Asia, and Western politicians are increasingly worried about the geopolitical risks. As such, there's been a drive to bring back domestic chip production, by partnering with existing companies to set up new factories in the US or on the European continent.

Intel CEO has meeting with EU officials

The US has seen some succes in attracting foundry players, with both TSMC and Samsung setting up new production capacity in the country. The US currently makes only 12 percent of global semiconductor chips, down from 37 percent 30 years ago.

EU officials want to copy this strategy and dream about 3nm and more advanced production facilities. Now there's word from Intel that CEO Pat Gelsinger is flying to Europe next week to meet with EU officials and customers. Last month, Gelsinger promised the chip giant would set up a future fab in Europe. It's unknown if this meeting will be about a potential chip plant deal.
Intel said last month that it will build a major new semiconductor factory - called a "fab" by industry officials - in Europe, with plans to announce a site within the next year. Intel did not specify which government officials Gelsinger would meet. -- Reuters
Besides Intel, which is restarting its foundry services unit, EU leaders may be interested in closing deals with TSMC or Samsung.

About the Author

Thomas De Maesschalck

Thomas has been messing with computer since early childhood and firmly believes the Internet is the best thing since sliced bread. Enjoys playing with new tech, is fascinated by science, and passionate about financial markets. When not behind a computer, he can be found with running shoes on or lifting heavy weights in the weight room.

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