Intel to Invest $3.5 Billion to Expand New Mexico Manufacturing Operations
Intel Corporation will invest $3.5 billion to equip its New Mexico operations for the manufacturing of advanced semiconductor packaging technologies, including Foveros, Intel’s breakthrough 3D packaging technology. The multiyear investment is expected to create at least 700 high-tech jobs and 1,000 construction jobs and support an additional 3,500 jobs in the state. Planning activities begin immediately, with construction expected to start in late 2021.
What Foveros Is: Foveros advanced 3D packaging technology enables Intel to build processors with compute tiles stacked vertically, rather than side-by-side, providing greater performance in a smaller footprint. It also allows Intel to mix and match compute tiles to optimize for cost and power efficiency. The move from system-on-chip to “system on package” will enable Intel to meet increasing computing performance needs for artificial intelligence, 5G and the edge.
Why It Matters: Intel’s global factory network is a competitive advantage that enables product optimization, improved economics and supply resilience. Investing in the company’s manufacturing operations is a key component of its recently announced IDM 2.0 strategy. The technologies currently developed and manufactured at the Rio Rancho site — Intel® Optane™ technology, embedded multi-die interconnect bridge and Intel® silicon photonics technology — play important roles in Intel’s new era of innovation by simplifying and optimizing semiconductor memory, packaging, and connectivity.
“Intel’s $3.5 billion investment in New Mexico will create 700 new jobs in the next three years and establish the Rio Rancho campus as the company’s domestic hub for advanced semiconductor manufacturing,” said New Mexico Gov. Michelle Lujan Grisham. “With this exciting development, we are already seeing the benefits of this year’s legislation expanding LEDA, generating high-quality and high-paying jobs for New Mexicans. The state and Intel have a 40-year partnership, and today, with innovative economic development tools and global demand for this technology, we can celebrate a new generation of workers and job growth at Intel’s New Mexico manufacturing plant.”