Intel reportedly suspended plans to establish a $25 billion chipmaking facility in Israel, a decision the company claimed was due to changing project timelines and market dynamics. According to local outlet Calcalistech, Intel’s suppliers in the country have received notice of cancellation of contracts for the provision of equipment needed to build the new factory, a plan agreed by the chipmaker and the Israeli government in December 2023. Intel and the Israeli government previously earmarked 2028 for the factory’s launch. Intel apparently added it remains committed to the market, which it brands as one of its key manufacturing and R&D sites. In 2023, Intel pumped a $300 million investment into Israel-based Tower Semiconductor, after a proposed merger between the pair fell through.

Source: The North Africa Journal June 11, 2024 11:56 UTC