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Intel to spend $3.5 billion upgrading New Mexico chip facility

Recently, Intel announced plans to greatly expand its manufacturing, with a $20 billion investment going towards new chip making facilities. Today, we have an update on that front, with Intel announcing plans to spend $3.5 billion upgrading its factory in New Mexico. 

As reported by VentureBeat, Intel CEO, Pat Gelsinger, announced the $3.5 billion facility investment today. Additionally, Intel is planning to spend $10 billion on a new factory in Israel, as well as $20 billion to build two new factories in Arizona.

As has been well documented over the last year, the tech industry is facing a major shortage in manufacturing and fabrication availability, which has led to numerous delays and a major lack of supply.

Intel is hoping to counter this lack of supply in the coming years with new facilities across the US and Europe. Intel also wants to start producing chips for other companies with its facilities too in an effort to compete with the likes of Samsung and TSMC.

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KitGuru Says: The global chip shortage won’t be solved immediately, as these things take time to ramp up and build. Still, it is nice to see things moving in a positive direction. 

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