Exclusive: Italy, Intel close to $5 billion deal for chip factory

Italy is close to clinching a deal initially worth $5 billion with Intel (INTC.O) to build an advanced semiconductor packaging and assembly plant in the country, two sources briefed on discussions told Reuters on Thursday. Intel's investment in Italy is part of a wider plan announced by the U.S. chipmaker earlier this year to invest $88 billion in building capacity across Europe, which is striving to cut its reliance on Asian chip imports and ease a supply crunch that has curbed output in the region's strategic car sector.
Read more: https://www.reuters.com/technology/exclusive-italy-intel-close-5-bln-deal-chip-factory-sources-2022-08-04/?source=Snapzu