Intel Israel revenue up 14% to $8b in 2020

Intel Kiryat Gat

This figure represents 2% of Israel's GDP and 10.27% of Intel's overall annual revenue of $77.9 billion in 2020.

Intel Israel has published its revenue results for the past year and described 2020 as "the best year in its history." Revenue in 2020 was $8 billion, up 14% from $6.6 billion in 2019. This figure represents 2% of Israel's GDP and 10.27% of Intel's overall annual revenue of $77.9 billion in 2020.

As of January 2021, Intel Israel is by far the largest tech employer in Israel with 13,950 employees, up from 13,750 employees 12 months ago. Of these employees, 7,000 work in development centers and 4,850 in production plants, while the other 2,100 work for Intel Israel units Mobileye, Moovit and Habana Labs.

In 2020, Intel Israel said that it procured goods and services in Israel worth NIS 5.9 billion.

Intel Israel stressed that the company has reported improved performance even though about 80% of employees worked from home for much of 2020 due to the Covid pandemic. "To sum up a year of historic records during a global crisis, is first and foremost, a mark of excellence for our employees, who during the Covid crisis, the lockdowns and overall constraints managed to achieve wonderful results."

Intel Israel also detailed some of its outstanding technical and production achievements in 2020. These included the development of the architectures of future processors and the processors themselves, Wifi-6e technology, which will allow exceptional fast wireless internet, Habana Labs Gaudi chip, which has been installed on Amazon's cloud, and new CET and TDX security solutions, which protect against cyberattacks. In terms of production, Intel Israel also began full manufacturing of 10 nanometer chips during 2020.

Intel Israel has committed to increase local procurement to NIS 700 million by 2030 and to increase the female part of its workforce to 40% by 2030.

Published by Globes, Israel business news - en.globes.co.il - on February 2, 2021

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

Intel Kiryat Gat
Intel Kiryat Gat
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