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Intel CEO Joins Trump To Announce New High-tech Chip Factory In Arizona

 

SANTA CLARA (dpa-AFX) - US tech giant Intel has announced plans to open a high-tech chip manufacturing facility in Arizona, which the White House claimed as another example of 'the real-world results that the Trump administration is getting in its pro-jobs agenda.'

 

Intel CEO Brian Krzanich unveiled plans for $7 billion chip factory in Chandler, Arizona, in the presence of President Donald Trump at the White House Wednesday.

 

Krzanich said the modern factory -- Fab 42 -- will make the most advanced 7-nanometer semiconductor chips.

 

Fab 42 will employ approximately 3,000 direct high-paying, high-wage, high-tech jobs at its peak, and over 10,000 people in the Arizona area in support of the factory.

 

The Intel chief said the factory will produce the most powerful computer chips on the planet, powering the best computers, the best data centers, and autonomous cars.

 

He made the announcement in support of the tax and regulatory policies that the Trump administration is pushing forward that makes it advantageous to do manufacturing in the U.S.

 

White House Press Secretary Sean Spicer termed it as 'the latest wave in economic optimism that's sweeping the country following the President's victory.'

 

He noted that last quarter, confidence among CEOs of U.S.-based companies jumped by 4.2 percent points in the YPO Global Pulse Survey.

 

Copyright RTT News/dpa-AFX