Italy Creating €4 Billion Chipmaking Fund, Trying to Attract Intel

With Intel still not having announced where in Europe they’ll set up shop next, but with Magdeburg, Germany being the hot ticket, Italy is now trying to figure out how they can win over some chip makers, least not Intel. The country is working on a €4 billion chip fund of its own to entice chip makers to set up shop in the nation. However, it seems like the fund is going to spread out over time, as it’ll run until 2030, the same time frame as the EU’s €15 billion chip fund is going to run. Italy will apparently divide the money in chunks of €500 million per year from 2023 to 2030.

Italy was apparently considering giving it all to Intel, according to Reuters, plus another €4 billion in other incentives, over a 10 year period. If that is still the case, isn’t clear, especially as the nation is said to be in talks with STMicroelectronics, MEMC Electronic Materials, Tower Semi (now Intel) and others. Reuters claims that negotiations with Intel are very tough, as the company has a lot of demands. The Italian government is also said to be promoting “research and development of microprocessor technology and investments in new industrial applications of innovative technologies”.