Intel Is No Longer Considering Factory in UK
Intel is no longer considering the UK as a potential site for a chip factory. The main reason is the nation’s withdrawal from the European Union.
The chipmaker is now shifting focus to investment options covering EU members instead. CEO Pat Gelsinger told the BBC the company has now set its eyes on EU countries and was receiving support from the bloc for a move which could see it invest $95 billion in the region in the next ten years.
New and upgraded chip factories in Europe, alongside a push in its US operations, are part of Intel's business strategy in the next decade. Following Brexit, the company is said to have received about 70 proposals for sites from approximately ten countries in Europe.
Gelsinger said Intel hopes to seal an agreement for a site construction, alongside backing from the union, before year-end. The move in Europe reportedly aims to reduce the semiconductor sector’s reliance on Asia in times of tension due to an ongoing global chip shortage.