Intel Plans $7 Billion Investment On Chip Plants
We've always heard that the best way out of recession is to innovate through it, and it looks like Intel has heard that very same message. Amidst economic turmoil that led to sharply decreased sales (down 23 percent) and net income (down 90 percent) during Q4 2008, Intel is determined to continue its tradition of innovation in order to be on the bleeding edge once things get turned around.
Announced this week, the chip maker has decided to invest some $7 billion over the next two years on chip plants (also known as a "fabs"), and it's also hoping to benefit from increased federal spending in the technology sector. Paul S. Otellini, Intel's chief executive, was noticeably positive in his speech on the expansion at the Economic Club in Washington. He stated: "We're investing in America to keep Intel and our nation at the forefront of innovation. These manufacturing facilities will produce the most advanced computing technology in the world." It should be noted that this is actually more than just hot air, as around three-fourths of the company's chip manufacturing occurs in the United States through plants in Oregon, Arizona and New Mexico, and the majority of its R&D funds are spent here as well.
Announced this week, the chip maker has decided to invest some $7 billion over the next two years on chip plants (also known as a "fabs"), and it's also hoping to benefit from increased federal spending in the technology sector. Paul S. Otellini, Intel's chief executive, was noticeably positive in his speech on the expansion at the Economic Club in Washington. He stated: "We're investing in America to keep Intel and our nation at the forefront of innovation. These manufacturing facilities will produce the most advanced computing technology in the world." It should be noted that this is actually more than just hot air, as around three-fourths of the company's chip manufacturing occurs in the United States through plants in Oregon, Arizona and New Mexico, and the majority of its R&D funds are spent here as well.
