Intel and Germany Ink Wafer Fab Deal

Revised Letter of Intent Signed

Investing in Europe's Chip Future

WEB, BERLIN, June 19, 2023 – Intel and the German federal government have signed a revised letter of intent for Intel's planned leading-edge wafer fabrication. Announced in March 2022, the €17 billion investment signifies a major milestone in strengthening Europe's semiconductor supply chain.

In the initial phase, Intel plans to develop two first-of-their-kind semiconductor fabs in Magdeburg, Germany. Here, Intel will begin its first high-volume production of Intel 4 technology, marking Intel's first use of high-volume EUV technology on the continent.

The project is not only a significant investment in Europe's digital infrastructure but also a testament to the growing collaboration between the US and the EU in the semiconductor sector. It is expected to create thousands of new jobs and contribute to Europe's economic resilience.