Last Tuesday, Intel declared it will invest $20 billion to develop two latest chip factories, named fabs, in Ocotillo, Arizona. Intel’s stock is getting higher by 5% on the news in expanding business on Tuesday. This declaration coexists with the latest CEO Pat Gelsinger’s first-ever comments since taking charge of the job.
During the industry transfer, Intel will stick to determining on producing the signal that guides its competitors to enhance separate chip fabrication and chip design. This news breaks during the shortage of chips globally that is shifting industries from automobile to electronics and letting the U.S.in panic as they are behind falling in producing semiconductor.
According to Gelsinger, In both the present and future, Intel will rule the industry as a leading processor technology developer. He also added, Intel is an important semiconductor producer and the highest silicon provider in the world.
Intel’s dedication to producing has national security suggestions. They said Intel is going to be a partner of IBM for the betterment of chip logic and packaging technologies. This decision will increase competition in this semiconductor industry of the U.S. and will support major U.S. government initiatives. Intel also stated that it is going to perform as a ‘foundry’ or a producing partner for the rest of chip manufacturing companies that are concerned about semiconductor design but require an organization to originally developing these chips. This foundry subsidiary will be named Intel Foundry Services, led by the current Intel senior vice president, Randhir Thakur.