Intel and the German government have signed a deal that would see the U.S. company investing more than 30 billion euros ($32.8 billion) in a chip manufacturing site in the German city of Magdeburg, with financial support from Berlin. Word of the agreement came on Monday as German Chancellor Olaf Scholz met Intel CEO Pat Gelsinger in the German capital. “The investment in Germany means a significant expansion of Intel’s production capacity in Europe and is the biggest investment ever made by a foreign company in Germany,” Economy Minister Robert Habeck said in a statement.
