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Intel, Thanks!

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Intel Corp. plans to spend $7 billion upgrading its U.S. factories over the next two years, a sign that the recession hasn’t extinguished chip makers’ lust for cutting-edge equipment.

The company’s investment, announced Tuesday by Intel CEO Paul Otellini at a speech in Washington, speaks to the semiconductor industry’s need to keep investing heavily, regardless of the poor economic climate that has led Intel to cut jobs.

The investment could be a boon to companies that produce chip-making equipment, like Applied Materials Inc. and KLA-Tencor Corp., and is another example of how Intel’s deep pockets have kept rival Advanced Micro Devices Inc. at bay.

we-lovepaul-otellini

Written by sharon

February 11th, 2009 at 2:01 pm

Posted in sales

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