Intel repeats Obama-era pledge to invest billions in a new factory
Intel CEO Brian Krzanich's meeting with new U.S. president Donald Trump was followed by a big announcement: The company will invest $7 billion over the next three to four years to complete a factory to make 7-nanometer chips.
The completion of Fab 42 -- where the chips will be made -- will create about 3,000 jobs in the Chandler, Ariz., area, Intel said. The chipmaker expects to help create 10,000 jobs tied to supporting the activities of Fab 42.
Trump has been pushing for more jobs in the U.S. and for bringing manufacturing back to the country. Making the announcement after meeting with Trump amplifies Intel's efforts to promote itself as a jobs creator.
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