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Intel Announces $3.5B Investment to Expand Manufacturing Capacity in New Mexico

Intel
Intel

Intel has allocated $3.5 billion in funding to expand its Rio Rancho campus in New Mexico to accommodate production of advanced semiconductor packaging technologies in addition to manufacturing memory storage, embedded multi-die interconnect bridge and silicon photonics technologies currently done at the site.

The company said Monday the multiyear investment will open a thousand construction employment opportunities and, upon completion of the site upgrade, will generate 700 high technology positions and support 3,500 additional jobs in the state.

The move is in line with Intel's IDM 2.0 strategy that calls for expansion of the company manufacturing capacity, increased engagement with technology ecosystem and industry partners and creation of Intel Foundry Services, a foundry business intended to meet global semiconductor manufacturing demands.

"We’re proud to have invested in New Mexico for more than 40 years and we see our Rio Rancho campus continuing to play a critical role in Intel’s global manufacturing network in our new era of IDM 2.0," said Keyvan Esfarjani, senior vice president and general manager of manufacturing and operations at Intel.

The Rio Rancho site will serve as the company's domestic hub for manufacturing Foveros and other advanced packaging technologies. Foveros allows for vertical stacking of a processor's compute tiles to deliver increased computing performance needed for artificial intelligence, 5G and the edge, while optimizing footprint, cost and power.

The construction is planned to begin in late 2021.

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