Intel picks Magdeburg, Germany for new European chip factory

Intel has chosen a location in the east German city of Magdeburg to build a multibillion-euro new chip factory in Europe and will make the decision public on March 4, a person familiar with matter told Reuters.

The company said in September it could invest as much as $95 billion in Europe over the next decade and announce the locations of two major new European chip fabrication plants by the end of 2021, but no announcement has been made.

Germany was top of the list of potential candidates with the local governments of Penzing in Bavaria and Magdeburg and Dresden in eastern Germany trying to tempt the U.S. company.