Italy Leans On Intel, Other Chipmakers To Boost Capacity

Italy looks to earmark over €4 billion ($4.6 billion) until 2030 to boost domestic chip manufacturing as it seeks to attract more investment from tech companies like Intel Corp INTC, Reuters reports.
Brussels has made available €15 billion in additional public and private investment by 2030, on top of €30 billion of public investments.
Italy's government is trying to persuade Intel to spend billions of euros on an advanced chipmaking plant in Italy.
Rome is ready to offer Intel public money and other favorable terms to fund part of the overall investment.
Rome also relies on new funding rules declared by the European Commission under the Chips Act.
Italy is also in talks with STMicroelectronics NV STM, MEMC Electronic Materials Inc, and Tower Semiconductor Ltd TSEM.
Price Action: INTC shares traded lower by 1.28% at $47.09 on the last check Tuesday.