Intel will invest 5 billion euros to expand its factory in Ireland

According to the Financial Times, Intel (INTC.O) will invest 5 billion euros (approximately 5.7 billion dollars) to expand its factory in Ireland, attempting to regain its dominant position in the manufacturing sector amid the artificial intelligence boom.

Intel stated in a press release that this investment will increase the capacity of its facility in the Leixlip campus, located in the suburbs of Dublin, as part of the company's plan to boost data center processor output. The expansion project will enhance the production capacity of products including the flagship Xeon server processors while advancing research and development activities.

Intel Executive Vice President Naga Chandrasekaran stated in a press release that this move is also part of the plan to improve the delivery capabilities for Intel's foundry business clients. Intel's foundry business primarily manufactures chips for other technology companies and is a crucial component of the company's revitalization strategy aimed at strengthening competition with rivals like TSMC.