1/20, 12:37 PM (Source: TeleTrader)
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Intel to decide on new chip factory location in 2023

Intel Corporation CEO Pat Gelsinger remarked on the tech giant's plans to set up a chip manufacturing plant in Italy, speaking at Davos in an interview with Corriere della Sera on Friday.

"Italy is still in the game, but so are other candidate countries," Gelsinger noted, adding that the company "will decide within the year" on the final location. The CEO confirmed he had a telephone conversation from Davos with Giorgia Meloni on Tuesday evening, as well as in-person talks with Irish Prime Minister Leo Varadkar this week.

Both countries are seen as competitors to secure the chip factory investment that was announced last March as part of a plan to infuse as much as €80 billion into expanding capacity across the Old Continent.

Baha Breaking News (BBN) / MX