The German government plans to invest around €2 billion in subsidies to support the country's semiconductor industry. This decision follows Intel Corp.'s cancellation of a €30 billion chip factory in Magdeburg two months ago.
Annika Einhorn, a spokesperson for the German economic ministry, stated that the funding will be used to enhance chip companies' production capabilities beyond current technological standards. This initiative demonstrates Germany's commitment to strengthening its position in the global semiconductor market in response to growing competition and demand for advanced chip manufacturing.