Intel, Germany strike record €30B deal for chip mega-factory

Intel and the German government have struck a deal on how to split the bill for a massive chip factory in Magdeburg, marking the end of a months-long funding dispute. The US chip giant agreed yesterday to fork out more than €30bn to develop the plant, a deal Chancellor Olaf Scholz hailed as the single biggest foreign direct investment in German history. The government has also agreed to up its subsidies for the megaproject from €6.8bn to €10bn.    “Today’s agreement is an important step for Germany as a high-tech production location — and for our resilience,” Scholz said. “With this…

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