Intel wants another €3.2b from German gov for Magdeburg mega fab
questions regarding government subsidies or the future of the site should that funding fail to materialize.
An Intel spokesperson did say that since announcing the Magdeburg site,"much has changed: geopolitical challenges have become greater, semiconductor demand has declined, and inflation and recession are disrupting the global economy." The spokesperson also reiterated comments made by Intel executives of the past few weeks, emphasizing the company's commitment to building in Germany.
Speaking last month, Intel's chief global operations officer said the company still planned to move forward with the fab project and is hashing out final funding details with the German government. The heart of the problem appears to be that building semiconductor fabs has become considerably more expensive since the project was first announced. Late last year, the chip shopIntel has run up against similar challenges in the US, where the cost of its two new Arizona fabs ballooned from $10 billion a piece in 2021 to more than $15 billion a little over a year later.
A worsening economic climate has forced the CPU giant to take even more drastic action in recent quarters, with CEO Pat Gelsinger
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