Intel In Talks With Germany's Bavaria For Chip Factory: Reuters

  • Germany's southern state of Bavaria discusses with Intel Corp INTC to build a European chip factory to relieve the auto sector from production cuts due to the global semiconductor chip crisis, Reuters reports.
  • Intel has been seeking $9.5 billion in public subsidies to build a chip factory in Europe.
  • Bavaria has proposed an abandoned airbase in Penzing-Landsberg, west of Munich, as a potential location.
  • The semiconductor chip crisis-induced automaker production cuts threatened to de-rail Germany's economic recovery from the pandemic.
  • The E.U. is focusing on a semiconductor alliance including STMicroelectronics NV STMNXP Semiconductors NV NXPIInfineon Technologies AG IFNNY, and ASML Holding NV ASML to cut dependence on foreign chipmakers.
  • Price action: INTC shares traded lower by 3.01% at $55.45 on the last check Friday.
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