TechnologyIntel seeks $10 bln in subsidies for European chip plant
ReutersDouglas Busvine
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An Intel Tiger Lake chip is displayed at an Intel news conference during the 2020 CES in Las Vegas, Nevada, U.S. January 6, 2020. REUTERS/Steve Marcus
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Intel (INTC.O) wants 8 billion euros ($9.7 billion) in public subsidies towards building a semiconductor factory in Europe, its CEO was cited as saying on Friday, as the region seeks to reduce its reliance on imports amid a shortage of supplies.
The pitch is the first time Pat Gelsinger has publicly put a figure on how much state aid he would want, as Intel pursues a multibillion-dollar drive to take on Asian rivals in contract manufacturing.
Intel seeks 8 bln euros in subsidies for European chip production
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Intel seeks 8 bln euros in subsidies for European chip production
(Reuters) - U.S. chipmaker Intel is seeking 8 billion euros ($9.7 billion) in public subsidies towards building a cutting-edge semiconductor manufacturing site in Europe, Chief Executive Pat Gelsinger was quoted on Friday as saying. What we’re asking from both the U.S. and the European governments is to make it competitive for us to do it here compared to in Asia, Gelsinger told Politico Europe in an interview.
A spokesman for Intel confirmed the interview took place on Friday in Brussels, where Gelsinger was due to meet European Commissioner Thierry Breton for talks on semiconductor strategy.
UPDATE 4-Intel seeks $10 bln in subsidies for European chip plant Reuters 4/30/2021 EU looking to drastically increase chip production Intel CEO eyes Germany, Benelux for potential plant TSMC stresses commitment to Europe after Breton talks Breton to talk to ASML, NXP bosses next week - Commission (Updates with Intel comment)
By Douglas Busvine
BRUSSELS/BERLIN, April 30 (Reuters) - Intel wants 8 billion euros ($9.7 billion) in public subsidies towards building a semiconductor factory in Europe, its CEO was cited as saying on Friday, as the region seeks to reduce its reliance on imports amid a shortage of supplies.
The pitch is the first time Pat Gelsinger has publicly put a figure on how much state aid he would want, as Intel pursues a multibillion-dollar drive to take on Asian rivals in contract manufacturing.
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By Paul Ziobro Intel Corp. posted lower quarterly sales and profit while lifting its full-year outlook as new Chief Executive Pat Gelsinger fast-tracks efforts to re-energize the U.S. semiconductor giant against the backdrop of a global chip shortage. Intel on Thursday said first-quarter sales fell 1% to $19.7 billion, generating $3.4 billion in net income. Excluding the pending sale of its memory business and other items, Intel said revenue was $18.6 billion and net income was $5.7 billion. Wall Street on average expected the company to report first-quarter sales to $18.6 billion and net income of $4.3 billion, according to analysts surveyed by FactSet.
Intel CEO to travel to Europe to meet officials, customers
FILE PHOTO: The logo for the Intel Corporation is seen on a sign outside the Fab 42 microprocessor manufacturing site in Chandler, Arizona, U.S., October 2, 2020. REUTERS/Nathan Frandino
April 21, 2021
BERLIN (Reuters) – Chipmaker Intel Corp confirmed on Wednesday that Chief Executive Pat Gelsinger will travel to Europe next week to meet with European Union officials and customers.
Intel said last month that it will build a major new semiconductor factory – called a “fab” by industry officials – in Europe, with plans to announce a site within the next year. Intel did not specify which government officials Gelsinger would meet.