Intel's $33 Billion Expansion in Germany Sets New Milestone

Intel will invest over $33 billion to build two chip-making plants in Magdeburg, Germany, as part of its expansion push in Europe. The German government has agreed to provide nearly $10 billion in subsidies to the US chipmaker, more than the $6.8 billion initially offered. The investment marks Intel's third big investment in four days, following plans for a $4.6 billion chip plant in Poland and a $25 billion factory in Israel. The first facility in Magdeburg is expected to enter operation 4-5 years after the European Commission's approval of the subsidy package.