October 1, 2022
Intel (INTC) and Brookfield to invest up to $30 billion in US factories - Money Times

Intel (INTC) and Brookfield to invest up to $30 billion in US factories – Money Times

David Zinsner said the deal between the companies “builds momentum since the recent passage of the CHIPS Act in the US (Image: REUTERS/Steve Marcus)

The Intel (INTC) and Canadian Brookfield Property It agreed on Tuesday to jointly invest up to $30 billion in the microprocessor maker’s state-of-the-art chip factories.

This step has been taken after the US President. Joe BidenChips signed into law earlier this month, which includes $52.7 billion in subsidies for semiconductor manufacturing and research. America.

Subsidiary infrastructure Brookfield will invest 49% of the expansion plan, up to $15 billion, while Intel will retain majority ownership and operating control of two chip factories in Chandler, Arizona, intended to manufacture advanced chips.

David Zinsner, Intel’s chief financial officer, said the deal between the companies “builds momentum since the recent passage of the CHIPS Act in the US.”

Last month, Intel cut its annual forecast due to declining demand for PCs.

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