Svmuu News: Intel (INTC.O) will invest 5 billion euros (approximately $5.7 billion) to expand its factory in Ireland in an effort to regain its dominance in the manufacturing sector amid the artificial intelligence boom.
IntelIn a statement, the company said the investment will expand production capacity at its Leixlip campus on the outskirts of Dublin as part of its plan to increase output of data center processors. The expansion will boost production capacity for products including its flagship Xeon server processors, while also advancing research and development activities.Intel Executive Vice President Naga Chandrasekaran said in a statement that the move is also part of a plan to improve delivery capabilities for customers of Intel’s foundry business.Intel’s foundry business, which primarily manufactures chips for other technology companies, is a key component of the company’s revitalization strategy aimed at strengthening its competitive position against rivals such as TSMC. (Jin Shi)