Intel builds chip factories in Magdeburg

Munich Magdeburg will become the new center of the European chip industry: The semiconductor manufacturer Intel will settle in the state capital of Saxony-Anhalt. For this Tuesday, the US group has invited to a virtual press conference with CEO Pat Gelsinger. According to Handelsblatt information, the manager will provide information about the billion-euro investment. These are Intel’s first plants on the European continent.

Gelsinger spent a year looking for a location in the EU and also negotiated billions in subsidies: both with the EU Commission and with national governments. According to industry circles, Schwerin was in the running alongside Magdeburg.