Intel Israel's exports up 70% in 2019 to $6.6b

Intel Petah Tikva

Intel also increased its investments in Israel with the $2 billion acquisition of Habana Labs and the opening of a new development center in Petah Tikva.

Intel Israel's exports rose 70% in 2019 to $6.6 billion from $3.9 billion in 2018, the company has announced. Much of the increase in exports was due to the new Kiryat Gat fab increasing to full production. During its 46 years of operations in Israel, Intel has exported more than $60 billion worth of goods while investing $20.5 billion in building development centers and production lines.

In 2019, Intel continued to invest in Israel. In December, Intel acquired Israeli startup Habana Labs for $2 billion and earlier in the year the company inaugurated its new Petah Tikva development center, which has 1,800 employees and is one of the smartest buildings in the world. Intel spent $1.8 billion in procurement for the new building from Israeli company including 75% with small and medium-sized enterprises.

Intel now has 13,700 employees in Israel including 900 employees of Mobileye. Research by the Samuel Neaman Institute for National Policy Research at the Technion, Israel Institute of Technology in Haifa, Intel is indirectly responsible for an additional 53,000 jobs in Israel.

Intel Israel general manager Yaniv Garty said, "Intel is developing and manufacturing the most advanced and smartest technologies existing today. These influence all our lives in areas such as computerization, artificial intelligence (AI), communications, cybersecurity and more. Over the past year, Intel strengthened its technological leadership in AI with the launch of new products and the acquisition of Habana Labs. The company also deepened its connection with the entrepreneurial ecosystem and opened the Ignite startup accelerator, which together with a range of investments by Intel Capital resulted in Intel strengthening its connection with Israeli startup companies. I am convinced that in 2020, Intel Israel will also continue to represent a strong and major power and will continue to yield real value to Intel worldwide."

Intel Israel development center head Karen Eibschitz Segal said, 'Israel continues to be a main anchor in leading and life-changing technological developments. Over the past year a number of developments came out of Israel such as the i9 processers for gaming, 10th Gen processors IceLake, wifi6, advanced sports technologies and more. After the inauguration of Intel's smart development center in Petah Tikva, I am certain that our development centers will continue to grow. The creativity and commitment of employees here has again brought us to new records, which I am sure we will break in the coming year."

Published by Globes, Israel business news - - on February 2, 2020

© Copyright of Globes Publisher Itonut (1983) Ltd. 2020

Intel Petah Tikva
Intel Petah Tikva
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