Intel CEO confirms massive investments in Israel

Intel building  Photo: Ronen Zvulun, Reuters

On a 24-hour visit to Israel, Pat Gelsinger revealed details about a $10 billion new plant and $600 million in investments in R&D for Intel and Mobileye.

On a 24-hour visit to Israel as part of a European tour, Intel CEO Pat Gelsinger has spoken of massive planned investments in Israel.

He confirmed that Intel has begun building a chip plant in Kiryat Gat, adjacent to its existing Fab 28 plant, which produces 10 nanometer chips, and is investing $10 billion in the project. Gelsinger also said that Intel is investing $400 million in transforming the Mobileye autonomous car technology plant in Jerusalem, into an expanded campus as well as $200 million in a new development campus in the Matam industrial park in Haifa.

Gelsinger said, "I have been visiting Israel for 40 years now and every time it excites me anew to see how Intel Israel has grown from four employees way back in the past, to more than 14,000 employees today. I see in Intel Israel a microcosm of Intel worldwide, leading in innovation, research, development and production on an extensive scale, and we are investing accordingly."

He added, "Our continued investment in expanding our existing R&D centers and enlarging production capacity in Israel as well as the acquisitions we have conducted of Mobileye, which leads the world in solutions to assist autonomous driving, Moovit and Habana Labs, which leads in AI, promise an exciting future for Intel and for Israel for decades to come."

Published by Globes, Israel business news - en.globes.co.il - on May 3, 2021

© Copyright of Globes Publisher Itonut (1983) Ltd. 2021

Intel building  Photo: Ronen Zvulun, Reuters
Intel building Photo: Ronen Zvulun, Reuters
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