Intel Breaks Ground On Arizona Plants: Reuters
Intel Corp (NASDAQ: INTC) broke ground on two new factories worth $20 billion in Arizona dubbed Fab 52 and Fab 62, reaching a total of six factories in the state, Reuters reports.
The new plants will be the first Intel has built from the ground up and will also manufacture chips for Qualcomm Inc (NASDAQ: QCOM) and Amazon.com Inc (NASDAQ: AMZN) cloud unit, and the U.S. military.
Intel rival Taiwan Semiconductor Manufacturing Co Ltd (NYSE: TSM) also acquired land to build its first U.S. campus in Phoenix, not far from Intel's location, where TSM plans up to six chip factories.
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Price Action: TSM shares traded lower by 0.56% at $115.54 on the last check Friday.
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