Friday, June 16th 2023
Intel to Get 9.9 Billion Euros in State Subsidies for German Facility
Intel has been planning to build its next-generation semiconductor manufacturing plant in Germany for a long time. Today, we have more information thanks to the Handelsblatt business and financial newspaper. According to the Handelsblatt, Intel is in talks with the German government to get as much as 9.9 billion Euros in state subsidies, a target price much higher than the previously agreed 6.8 billion Euros. Federal Economics Minister Robert Habeck has been reportedly working intensively to get the amount of state aid for Intel to be this high. Intel's CEO Patrick Gelsinger is supposed to seal the deal on Monday when he will sign the agreement in the Chancellery.
As reported, the location of the next-generation facility will be Saxony-Anhalt, with the more precise location to be known on Monday. Also, we expect to hear what manufacturing node will the upcoming facility produce at the beginning.
Source:
Handelsblatt
As reported, the location of the next-generation facility will be Saxony-Anhalt, with the more precise location to be known on Monday. Also, we expect to hear what manufacturing node will the upcoming facility produce at the beginning.
17 Comments on Intel to Get 9.9 Billion Euros in State Subsidies for German Facility
www.techpowerup.com/309924/germany-turns-down-intels-request-for-more-fab-fund-subsidies
Ps. @P4-630 I didn't joke.
Germany denied the 10 billion and insisted on 9.9 billion.
And to think the German gvt has allowed the US to fine its own companies billions, eg Siemens, VW etc. and now hand over more. It’s like there are members of the German govt and ministries that are working for the US and not for their own people.
A strategic move would be If EU started making CPUs, GPUs, Memory, HDD, SSD, monitors in our own fabs designed by our own companies.
We are highly dependent on a few other countries for such products, and that's a huge disadvantage for the EU.
Good on Intel I guess; if nothing else Gelsinger has certainly stepped up their begging game :roll: