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Intel's mega-factory in Germany in jeopardy after Lindner's 'nein'

Will Intel's semiconductor factory see the light of day in Germany? Doubt is more relevant than ever after the refusal by Christian Lindner, Minister of Finance, to grant additional credits to the American group to complete its Magdeburg project.

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Intel's mega-factory in Germany in jeopardy after Lindner's 'nein'

Will Intel's semiconductor factory see the light of day in Germany? Doubt is more relevant than ever after the refusal by Christian Lindner, Minister of Finance, to grant additional credits to the American group to complete its Magdeburg project. Berlin has already pledged 6.8 billion euros in subsidies. Intel, which refers to rising energy and construction costs, is now asking for 10 billion in public aid. "There is no more money available in the budget," replied the minister of the Liberal Democratic Party in an interview with the Financial Times.

His position is not unanimous within the coalition. Economy Minister Robert Habeck (Greens) and Chancellor Olaf Scholz (Social Democrat) would be more supportive of this new aid. This factory, which should make it possible to produce some of the most advanced chips in the world, is crucial for Europe. This is one of two flagship projects aimed at doubling its global market share (from 10% to 20%) in chip manufacturing with the GlobalFoundries and STMicroelectronics site planned in Crolles (Isère).

See also Intel, between strokes of genius and failed turns

Intel, which, in addition to Germany, has planned to invest 12 billion in a factory in Ireland, will find it difficult to bear the rising costs on its own. Suffering from falling PC sales, its main market, and lagging behind in artificial intelligence, its losses amounted to $2.8 billion between January and March. Without help from Berlin, the project planned for 2027 is in jeopardy.

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