Intel is ramping up its planned investments in existing semiconductor facilities, and it’s willing to build a European foundry if the EU kicks in a lot of cash. On Monday, Intel announced that it will invest $3.5 billion dollars in foundry upgrades to its facility in New Mexico.
These new upgrades to the company’s facilities in Rio Rancho will allow the Rio Rancho plant to increase its use of Foveros at the facility. Foveros is the name for Intel’s new 3D interconnect technology that allows the manufacturer to build new kinds of processors. It’s currently used for Lakefield and Alder Lake is widely expected to tap the capability as well.
Intel expects the new upgrades to add about 700 jobs on-site over the next three years. Interestingly, the company has also said it will no longer focus on buybacks to the same degree. “We will ...
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