Intel (INTC) is "engaged in intensive negotiations" with the Israeli government about investing...

|About: Intel Corporation (INTC)|By:, SA News Editor

Intel (INTC) is "engaged in intensive negotiations" with the Israeli government about investing an additional ~$10B in the country, says a government official. $7B would be spent over 10 years to build a new fab in the town of Kiryat Gat, and $3B would be spent to upgrade Intel's existing Kiryat Gat fab. Intel, which continues to spend heavily on capex, has invested $10.5B in Israel over the last 10 years, and has received $1.3B in government grants. The chip giant also wants to take over a local Micron (MU) fab that's due to be shuttered.