Tuesday, September 27, 2022

Intel seeks 8 bln euros in subsidies for European chip plant - Politico

Intel seeks 8 bln euros in subsidies for European chip plant - Politico

NEW YORK (Reuters) - US chipmaker Intel is seeking 8 billion euros ($9.7 billion) in public subsidies towards building a cutting-edge semiconductor manufacturing site in Europe, Chief Executive Pat Gelsinger was quoted on Friday as saying.

"What we’re asking from both the US and the European governments is to make it competitive for us to do it here compared to in Asia," Gelsinger told Politico Europe in an interview.

A spokesman for Intel confirmed the interview took place on Friday in Brussels, where Gelsinger was due to meet European Commissioner Thierry Breton for talks on semiconductor strategy.