Intel To Expand Its 10 Billion-Dollar Bet On Israel

In this July 20, 2011 file photo, Intel corporate offices are seen in Santa Clara, Calif. (AP Photo/Ben Margot)

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On a recent trip to Israel, Intel CEO Pat Gelsinger confirmed details about Intel’s upcoming investments in the Jewish state, including $600 million in investments in research and development and a new $10 billion chip plant in Kiryat Gat, Globes reported.

The investments include $400 million to expand the campus of Mobileye; the autonomous car technology research center in Jerusalem; and $200 million for a new campus in the Matam industrial park in Haifa.

Intel said Sunday that the expansion of its Kiryat Gat factory where it manufactures chips with advanced 10nm technology has begun.

“I have been visiting Israel for 40 years now and every time it excites me anew to see how Intel Israel has grown from four employees way back in the past, to more than 14,000 employees today,” Gelsinger said.

“I see in Intel Israel a microcosm of Intel worldwide, leading in innovation, research, development, and production on an extensive scale, and we are investing accordingly.”

(YWN Israel Desk – Jerusalem)