Germany and Intel signed an agreement to provide 10 billion euros in subsidies to chip factories

Thank you, Mr. Air, a netizen of CTOnews.com, for your clue delivery! CTOnews.com June 19, Bloomberg quoted people familiar with the matter as saying that Intel has signed an agreement with the German government to provide the American company with subsidies worth 10 billion euros (CTOnews.com Note: currently about 78 billion yuan) to build a semiconductor manufacturing plant in Magdeburg, eastern Germany.

▲ source: German Chancellor Olaf Olaf Scholz and Intel CEO Pat Gelsinger will sign the agreement at a ceremony in Berlin later on Monday, according to Intel people familiar with the matter. Of course, these people spoke on the condition of anonymity because the official announcement has not yet been released.

Some time ago, it was reported that the German government had planned to provide Intel with a subsidy of 6.8 billion euros (currently about 52.156 billion yuan). However, Intel said it asked the German government to raise subsidies to 10 billion euros because of rising energy prices and construction cost overruns.

▲ source: Intel Lindner responded that there was no extra money in the government budget and he was firmly opposed to increasing subsidies. CTOnews.com noted that Intel's semiconductor project in Magdeburg was the largest foreign investment in German history, with a total investment of 17 billion euros (CTOnews.com Note: currently about 130.39 billion yuan). Intel's project is a top priority of the European Union, which hopes to increase its share of the global semiconductor market from less than 10% to 20% by 2030.