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Intel Investing $20B in Building Foundry Business

Intel is spending $20 billion to build two foundries in Arizona, with plans to serve customers in North America and Europe.

www.eetasia.com, Mar. 25, 2021 – 

Intel is going to dive headlong into the foundry business, starting with a $20 billion investment in not one but two fabs in Arizona. New CEO Pat Gelsinger said the company is establishing the contract manufacturing endeavor as a standalone business called Intel Foundry Services (IFS).

IFS will be run by Randhir Thakur, a longtime executive at Applied Materials who joined Intel in 2017 to manage the company's global supply chain; he most recently held the title of chief supply chain officer. Thakur will report directly to Gelsinger.

"We are ready to engage with customers today," Gelsinger said.

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