The Latest Breaking News from Magdeburg

Intel is slated to present a new plan to the board of directors, including a new expenditure roadmap with significant budget cuts.

Intel CEO Pat Gelsinger is expected to meet with the board of executives this month to share potential plans on what to cut from Intel to turn around the company. Intel's Foundry wing will not be on the chopping block, but Intel's in-progress Magdeburg fab will likely be canceled.

Intel and the German government have signed a deal that would see the U.S. company investing more than 30 billion euros ($32.8 billion) in a chip manufacturing site in the German city of Magdeburg, with financial support from Berlin

To address future demand for semiconductors amid severe chip shortages of 2020 – 2022, all leading chipmakers announced plans to build new fabs and even disclosed their estimated costs. But spiraled inflation, caused by the disruption of supply chains by the pandemic and then by the Russian war against Ukraine,…

A 60-year-old man allegedly had himself vaccinated against COVID-19 dozens of times in Germany in order to sell forged vaccination cards with real vaccine batch numbers to people not wanting to get vaccinated themselves. The man from the eastern Germany city of Magdeburg, whose name was not released in line…

Germany looks to offer Intel Corp (NASDAQ:INTC) with a grant of over €5 billion ($5.5 billion) in public funds to build a massive semiconductor plant, Bloomberg reports. The final subsidy is subject to the approval of the European Commission. Related Content: Global Efforts To Reduce Semiconductor Dependence Will Further Exacerbate Crisis: Bloomberg Intel looks…

Intel has chosen the east German city of Magdeburg as the site for a new multibillion-euro European chip factory and will make the decision public on March 4, a person familiar with matter told Reuters. The company said in September it could invest as much as $95 billion in Europe…