Reported 7 months ago
Reported by 'Calcalist', an Israeli financial media, on June 11, 2024, Intel has temporarily halted a $25 billion new plant construction project in Israel, with Intel neither confirming nor denying the news. The project, Fab 38 in Kiryat Gat, was originally planned to start operations in 2028 and operate until 2035. The Israeli government had agreed to provide $3.2 billion in subsidies to Intel for this semiconductor fab in southern Israel. Intel did not directly address the Israeli project when questioned, emphasizing the need for major projects to adapt to changing schedules based on business conditions, market dynamics, and responsible financial management.
Source: YAHOO