Still no date for breaking ground, as chip giant reportedly confirms it will build once 'funding' worked out
Intel has said it remains committed to the construction of its planned chip manufacturing plant in Germany, just weeks after a company spokesperson said the project was on hold.
According to Intel's Chief Global Operations Officer it still intends to build the chip fabrication plant and is now working out the final funding details with the German government.that it had selected a site at Magdeburg in eastern Germany for a new manufacturing mega-fab, after considering a number of locations around Europe.
Work had been due to start on building the Magdeburg plant sometime in the first half of this year and chip production had been pencilled in for 2027 on Intel's blueprint, but in December the company spoke aboutdue to the rising cost of energy and raw materials, plus the falling demand for semiconductors having an impact on Intel’s near-term financial outlook.
"Geopolitical challenges have become greater, semiconductor demand has declined, and inflation and recession are disrupting the global economy," Intel spokesperson Benjamin Barteder said at the time, adding:"This means we cannot yet give a definitive date for the start of construction." Perhaps one of the factors influencing Intel’s thinking is its own revenue, which fell by nearly 20 percent during 2022, according to
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