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11mo ago

Intel Pauses $25 Billion Chip Plant Project in Israel

The semiconductor giant cites the need for 'responsible capital management' and changing timelines as reasons for the delay.

Intel has reportedly axed plans to build a new $25 billion chipmaking plant in Israel, with Intel saying that it's 'adapting to changing timelines'.
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Intel Fab
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Overview

  • Intel has halted the construction of a $25 billion chipmaking plant in Kiryat Gat, Israel.
  • The company emphasizes its continued commitment to Israel as a key manufacturing and R&D hub.
  • Intel attributes the decision to business conditions, market dynamics, and responsible capital management.
  • The Israeli government had agreed to provide a $3.2 billion grant to support the project.
  • There is no clear timeline for when the construction will resume.