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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