Germany And Intel Sign Agreement On New Chip Factory

BERLIN, GERMANY - JUNE 19: German Chancellor Olaf Scholz (R, behind) and Intel CEO Pat Gelsinger (L, behind) shake hands as State Secretary Joerg Kukies (front, R) and Intel board member Keyvan Esfarjani also shake hands after signing an agreement on the construction of a new Intel chip factory on June 19, 2023 in Berlin, Germany. The new factory, to be located near Magdeburg, is expected to cost at least EUR 17 billion. The investment comes as Europe is seeking to expand its domestic computer chip production in order to become less dependent on producers in Asia and the USA. (Photo by Sean Gallup/Getty Images)