Investments in the billions in Europe are imminent

Munich Intel boss Pat Gelsinger is stepping up the pace with his planned billion-euro investments in the EU: “We hope that we can make an announcement in Europe in the coming months,” said the manager in an interview with Handelsblatt. “It’s progressing,” he added.

The head of the world’s second largest chip company has been negotiating billions in subsidies for the plants with the EU Commission and national governments for almost a year. As a first step, Gelsinger wants to set up two chip factories in Europe, a research site and factories for testing and packaging the semiconductors.

Industry circles say the decision could be announced as early as February. Germany has good chances, insiders report. “We’ve made significant progress, but haven’t made a decision yet,” said Gelsinger.