Germany allocates €2 billion to boost its semiconductor industry after Intel's factory cancellation.

Germany plans to invest about €2 billion in its semiconductor industry to develop advanced production facilities and reduce dependence on foreign suppliers. This follows Intel's cancellation of a €30 billion chip factory project in Magdeburg. The funding aims to boost the domestic chip industry and aligns with the European Chips Act, which seeks to increase Europe's semiconductor market share.

4 months ago
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