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The Latest Breaking News from Magdeburg

Intel announces it will 'pause' plans for a manufacturing megafab in Germany due to ongoing money trouble

Bad news for Intel and Europe's chipmaking ambitions.

PC Gamer

Intel's missed AI opportunity might prompt it to pump the brakes on its $32 billion Magdeburg project and sell Altera to keep the lights on

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

Windows Central

Intel CEO will reportedly present plans to cut assets at an emergency board meeting — chipmaker may put $32B Magdeburg plant on hold and sell off Altera

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.

Tom’s Hardware

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Magdeburg politicians raise concerns about possible Intel fab cancellation — plans drawn up for anchor investor withdrawal

Uncertainty regarding Intel's fab building plans in Germany has started to ratchet up in recent days. The PC chipmaker has been preparing a large site for two large advanced chip fabs near Magdeburg. However, given the context of recent weeks, the local Saxony-Anhalt state government is understandably worried.

Tom’s Hardware

Intel begins groundwork on Magdeburg chip fab despite 13 remaining regulatory and environmental objections

Complete approval of Intel's Magdeburg fab is still pending, construction set to start in 2025.

Tom’s Hardware

German far-right says the EU is a 'failed project' as it prepares for European Parliament elections

The far-right Alternative for Germany has declared the European Union a “failed project” in its current form as it adopts its program for next June’s European Parliament election at its party convention in the eastern city of Magdeburg

The Independent UK

Intel soaks up Europe’s chip anxieties and subsidies

The U.S. giant will take over $10 billion in German subsidies for two new plants in Magdeburg.

Fortune

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Intel and Germany sign agreement for $32.8 billion chip plant investment

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

The Independent UK

Inflation Drives Up Fab Costs for Intel and Samsung by Billions of Dollars

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,…

AnandTech

Man in Germany Gets 90 COVID-19 Shots to Sell Forged Passes

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…

Asharq Al-Awsat

Germany Could Offer Intel €5B Subsidy For €17B Chip Plant: Bloomberg

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…

Benzinga

Intel Picks Magdeburg in Germany for New European Chip Factory

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…

Asharq Al-Awsat

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