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Intel Seeks 8 Billion Euros From EU For Chip Plant

Intel has asked for €8 billion in public subsidies towards building a semiconductor factory in Europe amid a shortage of supplies.

Intel CEO, Pat Gelsinger, revealed the figure on how much state aid he would want as Intel pursues a multibillion-dollar drive to take on Asian rivals in contract manufacturing.

The company later distanced itself from the figure, saying Gelsinger had not given a specific figure.

He said however that he had made it clear that EU leaders needed to invest to ensure a vibrant semiconductor industry. Gelsinger met European Commissioner Thierry Breton in Brussels last Friday.

Breton held talks earlier with Taiwan Semiconductor Manufacturing, the world’s No.1 chipmaker, as well as Samsung and Intel. Intel said it will invest US$20 billion in chip production in the US.

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