Intel has struggled to shrink circuitry, key to making processors competitive and profitable.
Intel plans to announce on Monday a $3.5 billion investment to upgrade a Rio Rancho, New Mexico, chip manufacturing plant. That spending, combined with $20 billion to build two new facilities in Arizona, is part of a major effort by the chipmaker to rejuvenate its manufacturing.
Intel confirmed the $3.5 billion upgrade, first reported on CBS' 60 Minutes on Sunday. Intel manufacturing chief Keyvan Esfarjani plans to detail the plan at a press conference with New Mexico Gov. Michelle Lujan Grisham, New Mexico's two senators, Martin Heinrich and Ben Ray Luján, and Rep. Teresa Leger Fernandez, Intel said.
Intel is happy with current efforts to drum up federal funding to help the US chip industry. Gelsinger said Intel also will invest more of its own money, too, instead of spending it on buying its ...
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