Intel is reportedly halting plans on a new chipmaking facility in Israel, that would've come at a cost of $25 billion.
The news is coming from Israeli financial news website Calcalist, with Intel neither confirming or denying the news. Intel was asked about the report into its facility in Israel, with an Intel spokesperson saying in a statement: "Israel continues to be one of our key global manufacturing and R&D sites and we remain fully committed to the region.
"Managing large-scale projects, especially in our industry, often involves adapting to changing timelines. Our decisions are based on business conditions, market dynamics and responsible capital management".
The Israeli government agreed to give Intel a $3.2 billion grant to build the new $25 billion chip plant in southern Israel, with Intel saying previously that the proposed factory for its Kiryat Gat site, where it has an existing chip plant, was an "important part of Intel's efforts to foster a more resilient global supply chain".
- Read more: Intel plans $11 billion manufacturing plant in Israel
- Read more: Intel places orders to secure ALL of ASML's High-NA EUV machines built this year
- Read more: Intel finishes assembly of ASML's first High-NA EUV tool, ready for Intel 14A process in 2025
- Read more: Intel partners with 14 companies in Japan to make new tech, automate semiconductor packaging
- Read more: Intel CEO Pat Gelsinger publicly invites Tesla CEO Elon Musk for a tour of semiconductor fab
- Read more: Intel's new fab in Germany finds 6000-year-old ancient burial ground from human sacrifice
- Read more: Intel gets $19.5 billion in funding from CHIPS Act for US semiconductor manufacturing
- Read more: Intel delays launch of Ohio fab plant from 2025, now expected somewhere in 2027-2028