Intel Corporation invests in manufacturing facilities
$ 95 billion to build chip factories in Europe

The global shortage of chips remains a major concern for automakers, and Ford Motor has confirmed the situation. General Motors is the other company talking about the prevailing situation. The companies mentioned say the matter has gotten pretty serious and they are being forced to change their production plans. For example, they intend to reduce their production and blame the shortage of chips for this. The above companies aren't the only ones feeling the pressure as Toyota Motor Corp (NYSE: TM) is also taking a drastic step. It's not all bad when you consider that Intel and other chip developers want to step up their activities to make chips available. According to its own information, the company plans to spend around $ 95 billion on building new chip factories in Europe. The company sees it as its duty to respond to the ongoing race to expand production at a time when global chips are in short supply. On Tuesday, the company's CEO Pat Gelsinger spoke about the company's plans to build two new factories in Europe. He anticipates further expansions that would drive the company to higher spending. The Chairman of the Board welcomed the company's plans and emphasized that they were critical to meeting the high demand for semiconductors. Intel's competitor Taiwan Semiconductor Mfg. Co. Ltd. (NYSE: TSM) is the world's largest chip contract manufacturer and has also spoken out about its plans. The economic giant says it will significantly expand its manufacturing capacity. He plans to invest around $ 100 billion in increasing production capacity over the next three years. The future looks bright for chip developers, given the expected expansion of the chip market. According to reports, the chip market could double, valued at around $ 115 billion.





