Intel Corporation (NASDAQ: INTC) recently confirmed that discussions with Italy regarding a potential investment in the country are still ongoing. This announcement came shortly after the U.S. chipmaker revealed its plan to allocate up to $4.6 billion toward establishing a new semiconductor assembly and test facility in Poland.
Following the news, Intel Corporation experienced a notable increase in shares, rising by 1.54% on Friday.
In a statement provided to Reuters, Intel expressed appreciation for the Italian government’s dedication to fostering a competitive microelectronics ecosystem.
The company had previously announced its intention to construct an advanced packaging and assembly chip factory in Italy as part of a broader long-term investment strategy aimed at expanding capacity throughout Europe. Although the deal is expected to involve state subsidies, it has not yet reached its finalization stage.
Maria Reed is a financial journalist with a passion for covering US equities. She joined the ABBO News team in June 2023. Maria holds an M.S. degree in International Economics and Finance from Otto-von-Guericke University in Magdeburg and is a CFA Level 2 candidate.
