- Intel Corp INTC will invest 30 billion ringgit ($7 billion) in expanding its manufacturing capabilities in advanced semiconductor packaging technology in Penang, Malaysia, Bloomberg reports.
- The addition of advanced packaging capabilities to Intel’s operations in Malaysia will amplify its supporting activities and global service center.
- Intel CEO Patrick Paul Gelsinger, Malaysia’s Trade Minister Azmin Ali, and Malaysian Investment Development Authority CEO Arham Abdul Rahman will attend a press conference on investment on December 15 at the Kuala Lumpur International Airport.
- The investment will position Malaysia as critical manufacturing and shared services hub.
- Price Action: INTC shares traded higher by 0.43% at $50.81 in the premarket session on the last check Monday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in
