The Ultimate Revelation Of Intel Seeks $10 Billion - intel ceo says

The Ultimate Revelation Of Intel Seeks $10 Billion

 Intel's CEO was quoted as saying on Friday that the company expects 8 billion euros ($9.7 billion) in public subsidies to develop a semiconductor factory in Europe, as the country tries to limit its dependence on imports despite a supply shortage.

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As Intel pursues a multibillion-dollar bid to compete with Asian competitors in contract production, this is the first time Pat Gelsinger has publicly stated how much state funding he would like.

In an interview with Politico Europe, Gelsinger said, "What we're calling from both the US and European governments is to make it competitive for us to do it here relative to Asia."

According to Politico, Gelsinger stated that he is seeking approximately 8 billion euros in subsidies. Later, the organisation distanced itself from the study, claiming that although he did not have a precise number, he did state that EU leaders wanted to spend to ensure a thriving semiconductor industry.

On Friday, Gelsinger met with European Commissioner Thierry Breton in Brussels as part of his first European tour since taking office. The visit came after Intel announced a $20 billion investment in chip manufacturing in the United States.

Furthermore, Gelsinger is looking for a site in Europe for a plant that would support Breton's target of doubling the region's share of global chip production to 20% in the next decade.

Breton met with Taiwan Semiconductor Manufacturing Co Ltd (TSMC), the world's No. 1 chipmaker, ahead of Samsung and Intel of Korea, earlier on Friday.

Breton characterized his meeting with Intel's Gelsinger as a "in-depth interview," while a video call with Maria Merced, president of TSMC Europe, was a "nice exchange," according to two different tweets.

"To satisfy existing and potential semiconductor market demand, Europe will significantly expand production capacity - both on its own and by carefully chosen collaborations to ensure supply protection," Breton said.

The talks with Breton, according to TSMC, showed the company's commitment to the region. "Our ability to provide the best possible service to our customers means we're still able to develop transparent relations with governments and regulators, regardless of where they or we are located," the company said.

According to the Commission, Breton will meet with the CEOs of two Dutch semiconductor companies on May 4: ASML, a leading manufacturer of semiconductor lithography equipment, and NXP, a chipmaker.

Recent disruptions in semiconductor supply chains have heightened the importance of attempts to minimize reliance on imports, but experts warn that Europe's shrinking technology base means a viable demand for a cutting-edge factory, or "fab," does not exist.

According to industry and diplomatic sources, Intel is the only one of the Big Three chipmakers to have shown concrete interest in Breton's goal of making Europe's most innovative chips.

Breton's efforts to entice a big international chipmaker have alarmed domestic actors, and he is considering forming a European semiconductor alliance to pool their interests.

Breton's proposal to strengthen chip manufacturing in Europe was supported by Germany's Infineon on Friday.

"Since financial resources are naturally scarce, it is critical to discuss the most pressing needs and the most prudent investment options," Infineon said.

Visit by a German

On the German leg of his European tour, Gelsinger met with Economy Minister Peter Altmaier and Bavarian Governor Markus Soeder and was quoted as saying that Germany would be a good place for a future European foundry.

"If you're in Europe, you want to be in continental Europe," he told Politico, comments that were repeated in a second interview with the German business daily Handelsblatt.

"We think of Germany as a good candidate - not the only candidate, but a good candidate - for where we could develop our fabrication capabilities," he said, adding that the Benelux countries have piqued his interest.

Gelsinger also met with executives from BMW and Deutsche Telekom in Germany, according to Intel. According to sources, he also paid a visit to the Volkswagen offices, but neither side confirmed this.

Next week, Gelsinger will visit Israel, where Intel is expected to announce a $200 million investment in a new chip manufacturing campus as well as the hiring of 1,000 new employees.