Intel CEO Pat Gelsinger appeared on 60 Minutes tonight to discuss the ongoing chip shortages in a wide-ranging interview with CBS News correspondent Leslie Stahl. Stahl noted during the program that Intel would announce a $3.5 billion upgrade to its Rio Rancho facility in New Mexico this week. Intel also posted a press release during the program announcing a live news conference tomorrow at 9 am PT about the investment (the press release doesn’t include the $3.5 billion figure). IDM 2.0 model that will entail producing custom chips for third parties while it also vastly expands its own production capacity. Intel has already announced a $20 billion investment for two new fabs in Arizona, and it is also seeking subsidies from the US government for further US-based expansion. Intel recently confirmed a $10 billion investment in its Israel facilities , and is also reportedly seeking ~$10 billion in funding from the EU for a new fab in Europe. TSMC has announced its own $100 billion investment in fabs and R&D over the next three years. announced that it would cease production at the end of 2021. Micron plans to put its 3D XPoint fab in Lehi, Utah, up for sale… Read full this story
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