Italy plans to invest $4.6 billion to attract chipmakers

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Italy is earmarking €4 billion ($4.6 billion) till 2030 to spice up its home chip manufacturing. In line with a draft of the decree seen by Reuters, the plan is to lure in firms like Intel, in an effort to alleviate the present chip scarcity and its reliance on overseas chip provide.

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Intel has been in talks with Italy to work out a deal value $9 billion over the following decade, and the corporate is already investing over $95 billion into its enlargement into Europe over ten years. This consists of plans to erect a complicated chipmaking plant in Italy, in addition to plans to construct a large state-of-the-art chip fabrication plant in Germany. The intention is to make use of the funding to transform present factories into chip-making amenities, and construct new crops. 

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