Mergers and Acquistions News
Categories: Semi-Conductors
February 13th 2009, 16:00PM
Intel - the US-based processing giant - is to invest $7 billion (£4.8 billion) to build advanced manufacturing facilities in the US, the largest-ever investment in a new process from the firm.
The money funds deployment of Intel's 32 nanometer manufacturing technology that will be used to build faster, smaller chips which consume less energy.
Funding will go to Intel's existing sites at Oregon, Arizona and New Mexico, supporting around 7,000 high-tech jobs in these areas.
Intel president and chief executive officer Paul Otellini says that the commitment will keep the company and the US at the "forefront of innovation".
"The capabilities of our 32 nanometer factories are truly extraordinary, and the chips they produce will become the basic building blocks of the digital world, generating economic returns far beyond our industry," he adds.
Semiconductors manufacturer Intel was founded in 1968 by Bob Noyce and Gordon Moore.
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