- Italian Prime Minister Giorgia Meloni Intel INTC To discuss potential multi-billion euro investments in Italy by US chip makers.
- Reuters reports that Intel will build a chip factory in the country as part of a broader plan to invest up to €80 billion ($85.15 billion) over the next decade to build capacity across Europe. I was aiming for that.
- The deal, which has not yet been finalized, could involve state subsidies.
- “In the coming days, we are planning a meeting to ask what can be done to encourage investment in Italy,” Meloni said at a year-end press conference, according to Reuters.
- As of March, Italy aims to allocate more than €4 billion ($4.6 billion) by 2030 to boost domestic chip manufacturing, and is looking to attract more investment from tech companies such as Intel.
- Brussels has made available an additional €15 billion of public and private investment by 2030, on top of €30 billion of public investment.
- As of August, Italy was nearing a deal with Intel to build an advanced semiconductor packaging and assembly plant in the country.
- The deal was originally valued at $5 billion.
- Price action: INTC shares Thursday closed 2.62% higher at $26.21.
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