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Intel CEO: Decide whether to build a new chip factory in Italy before the end of the year

Intel CEO Pat Gelsinger said Friday that the company believes Italy is just one of several countries considering setting up new chip factories and will make a decision by the end of this year.

Intel previously said it plans to invest 80 billion euros in the European semiconductor sector over the next 10 years, and that the Italian project will be an advanced packaging and assembly plant.

In a statement to Reuters, Intel said: “We continue to have discussions with Italy,” adding that it remains “excited about the project.

The uncertainty is reportedly due in part to the pending approval of the European Chip Act, legislation that is expected to free up funds to boost Europe’s semiconductor industry, including subsidies for companies, including Intel, to build manufacturing facilities.

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