Overview

• 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.