- Intel Corp (NASDAQ:INTC) is planning new chip-making facilities in Europe valued at up to $95 billion.
- Intel could raise the total investment over about a decade to up to 80 billion euros.
- CEO Pat Gelsinger said Intel is planning two chip factories at a new site in Europe to plug the demand surge for semiconductors in computers, cars and gadgets, the Wall Street Journal reports.
- Taiwan Semiconductor Manufacturing Co Ltd (NYSE:TSM) already committed $100 billion to the initiative. Samsung Electronics Co Ltd (OTC:SSNLF) recently earmarked $205 billion to the cause.
- Intel said it plans to commit an Ireland factory to the auto chip sector as the crisis continues to weigh on ord Motor Co (NYSE:F), General Motors Co (NYSE:GM) and Toyota Motor Corp (NYSE:TM).
- Gelsinger expects the market for car chips to more than double to $115 billion by the end of the decade.
- Intel’s self-driving subsidiary Mobileye will begin a pilot of a robotaxi service in Israel and Germany in 2022 in collaboration with car-rental giant Sixt SE.
- The partnership could follow ride-sharing services across Germany and other European countries later this decade.
- INTC Price Action: Intel shares were trading 0.46% higher at $53.76 at last check Tuesday.
Why AMC Entertainment Shares Are Rising Today
AMC Entertainment Holdings Inc (NYSE: AMC) is trading higher Monday after the company confirmed that its October ticket admission revenues, both internationally and in the U.S., were the highest that AMC Entertainment has seen for any single month since February 2020.
