This week, Intel signed the purchase agreement to become a landowner in
We also signed Bechtel as our general contractor for Intel's new
Intel's IDM 2.0 strategy requires sustained investment in a global semiconductor supply chain that is resilient and geographically balanced. During the COVID-19 pandemic, we saw how global demand and supply shocks could bring the economy to a virtual standstill.
Semiconductor manufacturing is especially vulnerable given that 80 percent of current capacity is concentrated in one small geographic region. Our strategy is the industry's strategy: Diversify our footprint today to bolster the chip supply needed for tomorrow.
Press Kits: Intel Invests in
This is not a challenge to be solved overnight or even in a few years. Best-in-class semiconductor facilities or fabs take three to five years to build. And that's after you have the land, the construction team and the vision for where that capacity is most needed. We believe
Since we announced plans to build new semiconductor fab sites in
This means investing now for a future we know is coming. A future in which nearly everything becomes digitalized. A recent report projects semiconductor demand to increase 5% every year until 2030, at which time the semiconductor industry is expected to have a total addressable market of
We are carefully monitoring market conditions and working closely with government partners on the best way to advance our plans in
We cannot wait for market demand to return before investing in the capacity we're going to need tomorrow. Following Intel's smart capital strategy, we will continue to invest in space and initiate equipment investment based on demand, technology and product readiness milestones. By planning our future footprint today, we will be that much farther ahead when the economy roars back.
About Intel
Intel (Nasdaq: INTC) is an industry leader, creating world-changing technology that enables global progress and enriches lives. Inspired by Moore's Law, we continuously work to advance the design and manufacturing of semiconductors to help address our customers' greatest challenges. By embedding intelligence in the cloud, network, edge and every kind of computing device, we unleash the potential of data to transform business and society for the better.
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