The Israeli government and Intel confirmed plans to build a $25 billion chipmaking factory in the south of the country, an investment Prime Minister Benjamin Netanyahu has described as the biggest in Israel’s history. “Intel has chosen to approve an unprecedented investment of $25 billion and to establish its new factory right here in Israel,” Israel’s finance minister Bezalel Smotrich wrote in a post on X on Tuesday. The company confirmed the investment plans on Tuesday. Including Kiryat Gat, Intel’s most advanced manufacturing facility, the company has four development and production sites in Israel. Intel also bought Israeli driver-assist technology startup Mobileye for $15.3 billion in 2017, before taking it public just over a year ago.

Source: CNN December 26, 2023 19:42 UTC