Home » Intel signs agreement with Brookfield to finance chip production

Intel signs agreement with Brookfield to finance chip production

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Intel, the US semiconductor giant, has launched a Semiconductor Co-Investment Program (SCIP) with the aim of introducing a new financing model in a capital-intensive industry.

As part of the program, Intel has signed an agreement with Brookfield Asset Management, one of the world‘s largest alternative asset managers, which will provide Intel with capital to build factories in the United States.

The deal follows the two companies’ memorandum of understanding announced in February 2022. Under the terms of the deal, the companies will jointly invest up to $ 30 billion in Intel’s previously announced manufacturing expansion at Ocotillo’s Chandler campus. in Arizona.

Intel finances 51% and Brookfield 49% of the total cost of the project. Intel will retain majority ownership and operational control of the two new state-of-the-art chip factories in Chandler, which will support long-term demand for Intel products and provide capabilities to Intel Foundry Services (IFS) customers.

“The agreement with Brookfield is a first for our industry and we expect it will allow us to increase flexibility while maintaining capacity on our balance sheet to create a more distributed and resilient supply chain,” said David Zinsner, CFO of Intel.

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