It took the German government some time to secure €10 billion in funding for Intel’s Fab 29 near Magdeburg. However, now that the company has decided to postpone the project launch to 2029 – 2030, that funding will likely go back to the federal budget, reports HardwareLuxx.
Intel’s project near Magdeburg was to receive substantial government backing of €10 billion from the Climate and Transformation Fund, with an initial tranche of €3.96 billion allocated for 2024. However, Intel postponed construction for financial reasons and slowly ceased its foundry business, putting these funds on hold.
