Intel is looking for an additional EUR4B-EUR5B in subsidies from Germany to proceed with a chip manufacturing complex in the eastern part of the country, Bloomberg’s Jillian Deutsch and Ian King report, citing people familiar with the matter. The company had already reached an agreement to build a facility in Magdeburg with EUR6.8B in government subsidies, subject to EU approval, but it delayed the start of construction on the project at the end of 2022 amid economic headwinds and is now seeking more aid, the authors note. Reference Link
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