Chip giant Intel has announced a $ 3.5 billion investment to power its manufacturing plant in Rio Rancho, New Mexico. The multi-year investment is aimed at modernizing facilities for the production of advanced semiconductor packaging technologies, including its 3D packaging technology called Foveros.
The investment follows a new announcement by Intel earlier this year that it would build two new semiconductor plants in Arizona at a cost of $ 20 billion. This series of investments is part of new Intel CEO Pat Gelsinger’s review of the company’s Integrated Device Manufacturing (IDM) model, including the creation of a new semiconductor manufacturing company called Intel Foundry Services.
“We are proud to have invested in New Mexico for more than 40 years and we see that our Rio Rancho campus continues to play a critical role in Intel’s global manufacturing network in our new era of IDM 2.0,” said Keyvan Esfarjani, Senior Vice President from Intel. and General Manager of Manufacturing and Operations.
The investment in New Mexico comes just weeks after Gelsinger promised that his company would increase production at existing units in an effort to help companies emerge from the current semiconductor chip shortage.
Gelsinger called 2021 a “pivotal year” for the company last month, as Intel beat analyst revenue expectations for the first quarter of 2021, thanks in large part to strong growth in PC sales.
The Rio Rancho facility is one of Intel’s oldest manufacturing facilities, and according to the company, it currently develops and produces Intel Optane SSD technology, integrated multi-array interconnect bridge, and Intel silicon photonics technology.
In a press release, the chipmaker shared that the new investment will create at least 700 high-tech jobs in the state, in addition to 1,000 construction jobs, while supporting another 3,500 jobs in the state. condition.
Intel will invest billions in a US manufacturing plant.