https://money.usnews.com/investing/news/articles/2024-06-10/intel-halting-25-billion-factory-expansion-in-israel-israeli-media-report
Have they bought more Israeli startups lately?
9 replies (most recent on top)
https://www.theregister.com/2024/06/10/intel_israeli_fab/
Intel employees should be very worried. This shows that management is finally facing realities. Considering that VSP is being opened management has probably also noticed that they are somewhere in the 40-50% overstaffed range for the constantly declining revenue stream. It’s not a great time to be looking for a tech job and if you do find one it won’t be at your current compensation level. Especially if you have been at Intel for a long time.
Intel is broke and no money left
its kind of funny that some posters think this has to do with israel/palestine problems. those problems have existed for the 40 years intel has been investing in israel. nothing new. this is all about intel running out of money to build fabs for which there are 0 customers or demand. that's it. it ain't complicated. intel has scrounged up virtually 0 ifs customers an they are finally realizing that all this capital there spending to build fabs that no customers want is a total waste. i have not heard a single tsmc customer clamor that they really want an intel foundry. in fact, it seems that the tsmc customers are more than happy to give tsmc their business (and samsung). intel is building a bunch of fabs for customers that don't want them and aren't interested in changing suppliers. this has nothing to do with anything other than that. same reason ohio, germany, etc will not ever run a wafer. there's no demand.
Confirmed:
The U.S. company, asked about the report, cited the need to adapt big projects to changing timelines, without directly referring to the project.
"Managing large-scale projects, especially in our industry, often involves adapting to changing timelines. Our decisions are based on business conditions, market dynamics and responsible capital management," it said.
https://finance.yahoo.com/news/chipmaker-intel-halt-25-billion-191640654.html?
Nope Intel already has huge factory in Israel. Right now with new factories in Ohio, Poland, AZ money is running out
This news is not confirmed by Intel yet. Is there an internal confirmation that this is true?
No money left to spend.
It’s getting harder to raise capital when your products are sh!t and losing to AMD and now Qualcomm.
Not a safe place to do business. No way investors want to see 25bn being wasted in such an unstable place