Italian government plans $10 billion investment into semiconductor industry in 2024

The Italian government plans around $10 billion investment into the semiconductor industry in 2024, plans to become one of the biggest in Europe.

2 minutes & 15 seconds read time

The Italian government has plans to invest around $10 billion into the semiconductor industry this year, where it plans to become one of the biggest microelectronics products in Europe.

Italian government plans $10 billion investment into semiconductor industry in 2024 405

Industry Minister Adolfo Urso told reporters in Pescara, where the ruling party Fratelli d'Italia met over the weekend: "Italy is preparing to become one of the largest microelectronics producers in Europe". Urso added: "I believe that in the coming weeks we will be in a position to make other equally significant announcements".

Urso announced a $3.4 billion investment into Singaporean startup Silicon Box, back in March 2024, which would see a new chip factory build in the north of the country. This announcement was born out of the Italian government's failure to convince Intel to invest, reports BNN Bloomberg.

Italy must be feeling the pinch of being out of the semiconductor race in the country, with ASML headquartered in Eindhoven, in the Netherlands. The Dutch government wanted to keep ASML -- which is the country's biggest company -- in the Netherlands, activating what the Dutch government called "Operation Beethoven" to invest in the region of Eindhoven, keeping ASML nice and snug and warm in the Netherlands.

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Anthony joined the TweakTown team in 2010 and has since reviewed 100s of graphics cards. Anthony is a long time PC enthusiast with a passion of hate for games built around consoles. FPS gaming since the pre-Quake days, where you were insulted if you used a mouse to aim, he has been addicted to gaming and hardware ever since. Working in IT retail for 10 years gave him great experience with custom-built PCs. His addiction to GPU tech is unwavering and has recently taken a keen interest in artificial intelligence (AI) hardware.

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