Sources: Germany and Intel agree on subsidies worth ~€10B for its chip plant in Magdeburg, up from an initial agreement on €6.8B, as part of a ~€30B project
Bloomberg
Related Coverage
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Discussion
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@trevor.bsky.social
Trevor Croker
on bluesky
Germany's finance minister earlier this month: “There is no more money available in the budget” — There's always money in the b̶a̶n̶a̶n̶a̶ silicon stand.
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@kh_paque
@kh_paque
on x
#Intel spends $33 billion in 🇩🇪 for landmark expansion. This is the biggest foreign investment ever in 🇩🇪 - with $10 billion of subsidies to be paid out for 2 high-tech plants. Not textbook competition, but a huge gain for 🇩🇪. @FNFreiheit @fdp https://www.reuters.com/...
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@politicoeurope
@politicoeurope
on x
If you can't beat them, join them ... That seems to be the West's motto in their subsidy race with China. The latest example: Today, Germany is expected to announce a €9.9 billion subsidy for Intel, so that it sets up a plant in the town of Magdeburg.
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@atbwebb
Alex Webb
on x
Germany's prepared to subsidize Intel's new Germany site to the tune of €10 bn. You have to wonder whether: a) the UK government would ever be willing to do the same; b) if they did, whether there would be uproar about it. https://www.bloomberg.com/...
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r/worldnews
r
on reddit
Berlin, Intel strike deal on $33 billion chip plant after months of subsidy talks
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r/hardware
r
on reddit
Germany, Intel Agree Chip Plant Subsidies Worth €10 Billion