Analysts call Intel’s disappointing quarter an ‘historic collapse’ and 'much worse than feared'
CNBCJUL 2023
Intel's multi-billion-dollar investment into the EU will significantly boost its chip production amid rising geopolitical tensions. Besides diversifying European supply chains, Intel's chip plants can make the EU more self-sufficient in semiconductors — optimizing the continent's semiconductor industry and allowing tech companies to source the chips in no time.
Intel's investment spree in the EU stems from the bloc's deteriorating relations with Beijing and the US' ongoing chip war with China. The move will backfire and hurt the EU and Western semiconductor industry as China is fighting back with new investments to make its chip manufacturing more self-sufficient. The PRC will soon catch up and overtake America in the technology stakes.