Intels modernization strategy could face setback with end of $5.4B Tower deal

Image for article Intels modernization strategy could face setback with end of $5.4B Tower deal

News Summary

  • In Intel CEO Pat Gelsinger announced a comprehensive modernization strategy he dubbed IDM integrated device manufacturing
  • As part of that vision the company announced a billion investment to build two new Fabs chip manufacturing facilities in Arizona along with plans to increase capacity in other parts of the U S and Europe
  • In February Intel announced plans to acquire Tower Semiconductor an Israeli chip manufacturer for billion in February
  • That deal was killed yesterday when Intel announced it was walking away due to regulatory issues getting the deal approved particularly in China
In 2021, Intel CEO Pat Gelsinger announced a comprehensive modernization strategy he dubbed IDM (integrated device manufacturing) 2.0. As part of that vision, the company announced a $20 billion inve [+3251 chars]

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