Intel to Spend $7 Billion on Big Malaysia Chipmaking Expansion
- CEO is in Asia this week for talks with TSMC, partners
- The investment marks a major outlay for the American firm
Photographer: Mustafa Ciftci/Anadolu Agency/Getty Images
Intel Corp. is spending $7 billion to build a new chip packaging facility in Malaysia, a major Asian investment intended to address endemic global semiconductor shortages at a time Washington is advocating domestic production.
The U.S. chipmaker intends to invest 30 billion ringgit on shoring up its advanced chip packaging capabilities in the island state of Penang, Malaysia’s main investment promotion agency said in a press invitation distributed Monday. It will elaborate on its plans for the Asian country during a press briefing Wednesday in conjunction with Trade Minister Azmin Ali and Malaysian Investment Development Authority Chief Executive Officer Arham Abdul Rahman, according to the invite.