NEWS


Intel looks for partner to provide $2 billion in funds for Fab 34


Intel is in the process of securing at least $2 billion in equity funding for its Fab 34 facility in Ireland.


The company has engaged an advisor and


is currently seeking potential investors for the project. Intel’s Fab 34 near Leixlip, Ireland, is currently the only high-volume semiconductor production facility in Europe using extreme ultraviolet (EUV) lithography.


The fab produces chips on Intel 4 process technology (previously known as Intel’s 7nm node), which is currently used to build compute tiles for Intel’s Core Ultra ‘Meteor Lake’ CPUs for client PCs and is expected to be used for some of the next-generation Xeon CPUs. Bloomberg reported that Intel is looking


forward to expanding its Leixlip site either to increase its output or to adopt a newer process technology, such as Intel 3, Intel 20A, and Intel 18A.


“Keeping in mind that Intel needs more production capacity both for its own products and for customers of its Intel Foundry Services (IFS) contract chipmaking unit, both assumptions are realistic,” the report said.


In 2022, Intel entered into an agreement with Brookfield Infrastructure Partners, which committed to investing up to $15 billion


Stronger exports supported


Irish manufacturing in January Irish manufacturing activity declined at a slower rate in January as export orders rose at their fastest pace in nearly two years, a new survey showed. The AIB S&P Global manufacturing


Purchasing Managers’ Index (PMI) for Ireland improved to 49.5 in January from 48.9 in December. In November it was 50, the level that separates expansion from contraction.


The index has been marginally below 50 for 11 of the last 15 months. January saw a rise in manufacturing


output, export orders and employment alongside marked destocking, the survey’s authors said. But new orders fell again on weaker domestic demand. Higher demand in Europe and Asia


were cited as factors in the rebound in exports.


Ireland remains a top destination for US companies


Ireland’s investment relationship with the United States is strong and enduring because – like any good relationship – it’s beneficial for both sides. Brian Conroy, executive vice president and director North America at IDA Ireland, said that, of the roughly 1,800 multinational companies that have chosen Ireland as a location for their global operations, about half of them are based in the US. “What’s more, these companies employ more


4 February 2024 Irish Manufacturing


than 180,000 people in Ireland,” Mr Conroy said. “Across the Atlantic, we’re also a good investment partner. Ireland is among the top 10 largest sources of foreign direct investment (FDI) in the US, and Irish companies employ more than 110,000 people across every state in the US.”


When it comes to why U.S. companies choose to invest in Ireland, some factors just make the country an inherently appealing place


to do business. “For starters, American companies operating here gain access to the large and lucrative European Union. Market,” he said. “We’re also the only member state in the EU that speaks English as its primary language. “And it doesn’t hurt that someone working in


New York City can hold a mid-morning call with teams from both their Los Angeles and Dublin offices without inconveniencing either of them.”


www.irish-manufacturing.com


for a 49% stake in Intel’s manufacturing expansion at the Ocotillo campus in Chandler, Arizona.


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