EU Approves $1.9B State Aid for Intel's Polish Chip Plant

The funding will support Intel's $6.47 billion investment in a semiconductor facility near Wroclaw, Poland.

Poland's Deputy Prime Minister announced the European Commission's approval of a $1.9 billion state aid package for Intel.
The aid is part of Intel's larger $6.47 billion investment to expand its foundry plant in Poland.
The facility, initially announced in 2022, is expected to employ around 2,000 workers and support Intel's European operations.
Poland must pass legislation and finalize formalities with the European Commission before disbursing the funds.
Intel's CEO faces pressure to cut costs, potentially affecting the company's global foundry expansion plans.