Intel CEO Reveals Panther Lake CPUs Will Be Produced Starting in 2025, What Are the Advantages?

On the other hand, Intel will stop plans to build a chip factory worth USD 25 billion or around IDR 407 trillion in Israel.

The information was reported by Israeli financial news site Calcalist, but was neither confirmed nor denied by Intel.

When asked about the report, as reported by Reuters, Thursday (13/6/2024), Intel responded normatively by mentioning the need to adjust major projects to schedule changes – without directly referring to the project.

“Israel continues to be one of our key global manufacturing and research and development locations and we remain fully committed to the region,” Intel said.

“Managing large-scale projects, especially in our industry, often involves adapting to changing schedules. Our decisions are based on business conditions, market dynamics and responsible capital management,” the US-based company added.

The Israeli government in December 2023 agreed to provide Intel with a $3.2 billion grant to build a $25 billion chip plant in southern Israel.

Intel has previously said that the proposed factory for its Kiryat Gat location, which is home to its chip manufacturing plant, is a key part of Intel’s efforts to drive a more resilient global supply chain–along with the company’s investments in Europe and the US.

Intel operates four development and production sites in Israel, including its manufacturing plant in Kiryat Gat called Fab 28. The plant produces Intel 7 technology or 10 nanometer chips.

Meanwhile, Fab 38 is planned to open in 2028 and operate until 2035. Intel is recorded as employing nearly 12,000 people in Israel.