Intel reportedly halts its plans for $25 billion chipmaking plant in Israel

Intel has reportedly axed plans to build a new $25 billion chipmaking plant in Israel, with Intel saying that it's 'adapting to changing timelines'.

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Intel is reportedly halting plans on a new chipmaking facility in Israel, that would've come at a cost of $25 billion.

Intel reportedly halts its plans for $25 billion chipmaking plant in Israel 34

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".

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NEWS SOURCE:reuters.com

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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