Intel (INTC) President and CEO Paul Otellini today announced plans to invest more than $5 billion to build a new chip manufacturing facility at his co.’s site in Chandler, Arizona. Otellini said that the new Arizona factory, designated Fab 42, will be the most advanced, high-volume semiconductor manufacturing facility in the world.
“The investment positions our manufacturing network for future growth,” said Brian Krzanich, senior VP and general manager, Manufacturing and Supply Chain. “This fab will begin operations on a process that will allow us to create transistors with a minimum feature size of 14 nanometers. For Intel, manufacturing serves as the underpinning for our business and allows us to provide customers and consumers with leading-edge products in high volume. The unmatched scope and scale of our investments in manufacturing help Intel maintain industry leadership and drives innovation.”
The announcement by Intel’s CEO was made during a visit by President Barack Obama at an Intel Corp. facility in Hillsboro, Oregon.
INTC gained 14 cents or 0.64%, to $22.11 at 3:28 pm E.T. in Nadaq composite trading.