The Israeli government and Intel have confirmed their plans to construct a $25 billion chipmaking factory in southern Israel, which Prime Minister Benjamin Netanyahu describes as the largest investment in the country's history. Intel has been present in Israel for almost 50 years and currently employs 11,700 people there, with over $50 billion invested in the country. Despite the ongoing conflict between Israel and Hamas, Intel wants to expand its existing chipmaking factory in Kiryat Gat. The investment is expected to create high-quality employment opportunities and contribute significantly to the Israeli economy. The expansion plan will enhance Intel's ability to source materials and chips globally. The Israeli government will provide a grant of $3.2 billion for the project, and Intel has committed to purchasing $16.6 billion worth of goods and services from Israeli suppliers over the next decade. The new factory is set to open in 2028 and operate until 2035. Intel also previously acquired Israeli tech startup Mobileye for $15.3 billion in 2017 and attempted to purchase Israeli chipmaker Tower Semiconductor for $5.4 billion, but the deal was canceled due to regulatory issues.
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