Image Credits: Financial Times
Chip manufacturing giant, Intel has reportedly started to take a bigger step in order to expand its entire manufacturing unit at the same time when Intel has been working towards expansion of semiconductor manufacturing. To know more about this, do checkout our entire article to get more information.
Intel reportedly Inks deals for $30 Billion with Brookfield
As we mentioned on the introduction side, Intel has reportedly inked this deal of over $30 billion.
This new deal by Intel has been inked in the form of a funding partnership with this asset management company called Brookfield Asset Management company which will be helping towards the financing of the massive factory expansion.
There are also reports which claim that this deal has been the first of many deals for Intel and according to the report coming from Chief Executive Pat Geslinger the company has been working towards completely pushing forward its entire manufacturing units located in both manufacturing hubs countries in Taiwan and South Korea.
Adding more details about this new partnership, it’s been said that the semiconductor giant will be funding over 51 percent of its entire building project of this new chip manufacturing company facilities located in Arizona, and also this semiconductor giant will be holding the controlling stake in the financing entities of this facility.
“Brookfield will control the remaining shares, and the firms will divide income generated by the plants,” Intel Chief Financial Officer David Zinsner told the Wall Street Journal.
There are more such deals Intel has been investing
This is not the first time when we see Intel making its way to the headlines by signing deals. Previously, Intel was seen making its way to headlines to improve its facility in telecommunications and energy.
After planning to expand this energy and telecommunication side now Intel has been putting up to improve its manufacturing plant too. Brookfield is among popular asset management companies which have over a whopping $750 billion cost projects.
Also, with the shorter hurdles faced by Intel, Geslinger expected that the annual sales for Intel chipset will be topping the chart by reaching its target of reaching a $1trillion yielding technology company by the end of this decade, and also Intel is also among the many semiconductor companies who have planned for the building factories in Arizona. We will be updating you with more details as we get more and more updates in the future.
