Intel to Build New Chip Factories in Europe

Intel is planning to build two new chip factories in Europe, and possibly more, as part of a plan to invest as much as $95 billion on semiconductor manufacturing in the region over the next decade, reported The Wall Street Journal.

This is the latest example of the strategic direction Intel CEO Pat Gelsinger has pursued since taking the helm in February, which includes making chips for other companies and significantly boosting its overall manufacturing capacity amid the global chip shortage.

But the jury is still out on another big part of Gelsinger’s turnaround plan, which is to avoid the kinds of chip manufacturing delays that plagued the company under former CEO Bob Swan. Intel is also facing intense competition from other contract chip companies like Foxconn and Taiwan Semiconductor Manufacturing Co.