Intel stops construction of $25 billion chip factory in Israel
The deal, announced in December of 2023, was slated to be the largest investment the international chipmaker has made in Israel so far.
World Israel News 12.06.2024
Intel’s $25 billion chip factory in Israel has been halted, although the chipmaker said in a statement that it was ‘still committed to the region.’
In the last few days, Intel’s suppliers received notice to halt the delivery of materials and cancel contracts required to establish the chip factory.
According to Calcalist, Israel’s Ministry of Finance was already aware of the decision to stop the construction, with the financial news outlet speculating whether it was a delay or a cancellation of the deal.
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