Intel Corporation is implementing a series of cost-reduction strategies and operational changes aimed at reviving its standing in the competitive semiconductor market. These efforts come in the wake of a challenging second quarter for the company, which saw a sharp decline in its share price and disappointing financial performance. Chief Executive Officer Pat Gelsinger recently […]
Intel Corporation announces significant layoffs and restructuring plans aimed at achieving $10 billion in savings by 2025. The American semiconductor giant, Intel Corporation, has revealed a substantial workforce reduction of approximately 15%, which will affect nearly 15,000 employees. This bold move is part of Intel’s broader cost-cutting strategy to enhance efficiency and market competitiveness. The […]
Intel Corporation has confirmed its decision to abort the planned $5.4 billion acquisition of Tower Semiconductor (Nasdaq: TSEM), pointing to unexpected delays in obtaining necessary regulatory approvals. Originating from a merger agreement formalized on February 15, 2022, Intel now owes Tower Semiconductor a hefty termination fee amounting to $353 million as per the stipulated terms. […]
Intel has inked a revised letter of intent with the German federal government regarding the development of its wafer fabrication site in Magdeburg, Germany’s Saxony-Anhalt state capital. This agreement pertains to Intel’s enhanced investment in the location, now projected to exceed €30 billion for two pioneering semiconductor facilities in Europe. The updated agreement includes amplified […]
Intel has announced its selection of a site near Wrocław, Poland, for a new state-of-the-art semiconductor assembly and test facility. The facility aims to address the increasing demand for assembly and test capacity anticipated by Intel by 2027. With an investment of up to $4.6 billion, the facility will have expandable capacity and is expected […]
Intel has signed a deal worth approximately $5.4 billion to acquire Israeli semiconductor company Tower Semiconductor in a move to creates a globally diverse end-to-end foundry to help address the growing demand for semiconductors. Tower Semiconductor, which is dual-listed on the Nasdaq and the Tel Aviv Stock Exchange, is a foundry for analog semiconductor solutions. […]
Intel said that it will make an initial investment of over $20 billion to build two new chip factories in Licking County, Ohio with an aim to help ramp up production to cope with the rising demand for advanced semiconductors. The two semiconductor factories in Ohio are also expected to power a new generation of […]
Intel Corporation has started construction on a couple of new computer chip factories dubbed Fab 52 and Fab 62 at its Ocotillo campus in Chandler, Arizona. The two new semiconductor fabs, which will see an investment of $20 billion, are expected to strengthen the leadership of the US in the semiconductor industry, while helping in […]