Intel and Brookfield sign agreement to invest $30 billion to build semiconductor factory in the United States

On August 23, according to media reports, Intel and Canadian asset management company Brookfield Asset Management today reached a cooperation agreement, the two sides will jointly spend more than 30 billion US dollars to finance Intel's semiconductor manufacturing in Chandler, Arizona, which is under construction. factory.

Under the agreement, Brookfield will invest up to $15 billion in the expansion of Intel's factory in Chandler's Ocotillo campus. The deal is expected to close by the end of this year, at which point Brookfield will own 49% of the project and Intel 51%.

The move comes after U.S. President Joe Biden signed the Chip and Science Act into law earlier this month. The bill aims to strengthen the construction of chip factories in the United States, and specific measures include $52 billion in subsidies and investment tax credits.

Intel CFO David Zinsner also said the agreement builds on the passage of the Chip and Science Act. Of course, the partnership is also part of an agreement reached in February to explore financing options for Intel's new factory.

There were also reports earlier this month that Intel was close to reaching an investment deal with the Italian government to build an advanced semiconductor packaging and assembly plant in Italy, with an initial investment of $5 billion. People familiar with the matter said that the Italian government is trying to reach an agreement with Intel to build a factory by the end of August.

The investment in Italy is also part of a broader investment plan that Intel announced earlier this year. At the time, Intel announced that it would invest about $88 billion to expand production capacity in Europe.