Intel to spend $20 bn on new US chip plants

San Francisco (AFP) – US chip titan Intel said Tuesday it will invest $20 billion in building two new¬†plants in Arizona as part of a plan to ramp up production in the United States and Europe. The move comes as a global chip shortage has countries and companies in those regions looking to reduce reliance on plants in Asia for semiconductors, which are used in a growing array of products such as cars. “Intel’s investment will help to preserve US technology innovation and leadership, strengthen US economic and national security, and protect and grow thousands of high-tech, high-wage American job…

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