As U.S. semiconductor manufactures strive to diversify production sources, Intel Corp. has announced that it will build a new manufacturing plant in Israel.
Plans for the new plant, expected to be valued at $25 billion, were announced by Intel along with Israel’s finance ministry and Prime Minister Benjamin Netanyahu in late June.
The plant will produce wafer chips.
Israel is already one of Intel’s four major wafer chip providers.
The expansion is part of a computer-chip sector push to limit dependence of Asia.