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.

November 28, 2024
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