Intel (INTC) denied increased German national funding for chip megafab
Intel was denied 10 billion Euros in requested funding on top of the 6.8 billion that the German government already been approved for its Magdeburg fabrication plant.
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Intel was denied 10 billion Euros in requested funding on top of the 6.8 billion that the German government already been approved for its Magdeburg fabrication plant.
Intel was already seeking to establish a state-of-the-art chip factory in Germany with the government covering 7 billion euros of the cost.
China's alleged fiscal incentive package is aimed at countering US trade legislation and creating self-sufficiency for the nation in the tech sector.
Despite the surge in year-over-year profits, TSMC remains cautious about the outlook of chip demand in 2023.
The German automotive maker has invested heavily to shore up its supply in 2023, but still believes there will be difficulties throughout next year.
Intel has plans to expand its business in Ohio with a new factory, but claims it may be slowed down by delayed funding from Congress' CHIPS Act.
Supply constraints led to Apple missing both iPhone and overall revenue expectations in Q4 2021.
Unprecedented demand is likely to keep global chip supply scarce for the immediate future.
The cost of these two plants is expected to reach $20 billion and will help address the current chip shortage plaguing the tech industry.
With global semiconductor manufacturing at capacity and demand at an all-time high, chip shortages are putting the squeeze on businesses around the world.