Intel plans to invest $89 billion in Europe to build a complete chip supply chain. Will this have a big impact on Intel’s stock price?

Intel plans to invest $89 billion in Europe to build a complete chip supply chain. Will this have a big impact on Intel's stock price?

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Intel Corp (INTC.O) announced plans to invest as much as $89 billion over the next 10 years to build a complete chip supply chain in Europe. Intel said it will spend about $19 billion up front to build two new chip factories in Germany. The factory is located in Magdeburg, a city in northeastern Germany. It is expected to start construction next year and start operations in 2027. The new factory will use Intel's most advanced transistor technology to supply itself and foundry customers. Intel CEO Pat Gersinger said the investment plan will advance European R&D innovation and “bring cutting-edge manufacturing to Europe.”