Intel Seeks 10 Billion in Subsidies from Germany
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tunejunky
i "knew" this was going to happen after Q3 & Q4 results.
Intel can afford it just out of cash reserves, but they have the politics on their side in the current (anti-China) environment
H83
I only ask for 10 millions!:p
Horus-Anhur
Intel is fast becoming market leader in asking for handouts from governments.
https://media2.giphy.com/media/3o6ZsZ78LqiaSNJrd6/giphy.gif?cid=ecf05e47zk6grq6yqg03akq3qelhvd60so2cibnvud52y508&rid=giphy.gif&ct=g
tunejunky
still well behind TSMC which has had ROC on hook for hundreds of billions of dollars and is going to get a US handout soon.
schmidtbag
Seriously? Intel made almost $20 billion in net revenue in 2021, and over 8 billion in 2022. They don't need a dime from Germany. What else are they going to spend this virtually endless cash on? Of course, the answer is always "because of shareholders". The stupid thing is, Intel would probably make a lot more money in the long run if they just paid out of pocket and requested a tax discount. Or, since parts would be made in Germany, that could perhaps exclude the VAT. I'm sure for many Europeans, if one CPU brand had a VAT while the other didn't, it'd be an obvious choice of which one they'd rather go with. That would be a tremendous boost in sales.
But who asked me - I'm no economist.
fantaskarsef
hehe true... but if it works it's actually a brilliant way to get new capital. Nothing's more effective than getting tax payer money.
tunejunky
it really does take "too big to fail" to a whole new level
JiveTurkey
Ridiculous as it is, society benefits more from Intel and tsmc than it does from all the money say sports teams get.
Working class is being overwhelmed by parasites. This should end well.
Horus-Anhur
Truth be told, I would rather have Intel getting these subsidies, than banks, oil companies and the military industrial complex.
geogan
Another transfer of wealth from poor taxpayers to rich American shareholders of a multi-billion corporation. Who are the clowns that enable this kind of thing?
Venix
I think it really boils down to ... Why spend our own 3.1 billions while we can do this ?
NewTRUMP Order
I guess a billion dollars just doesn't buy much anymore. https://media0.giphy.com/media/l2Sq6hWRpBdIhoedi/200.gif?cid=ecf05e47fxc45hxvcpjwm6sxpy0r0wfi70nqp5u45pmq9fki&rid=200.gif&ct=g
tunejunky
on the plus side is the workplace environment and perks for the employees.
it should be interesting given European living habits vs American productivity levels. so i'm sure there will be a more gentle persuasion for the white collar workers to stay on the job vs The Valley or Beaverton where it's the memory foam and Louis Vuitton stitching over the iron hand of productivity expectations. so i expect top notch comforts and a bit more of cross-culture upward mobility than is typical for the Magdeburg environs. the locals can expect some new shops and some good local taxes from the workers.
The Reeferman
The main reason western countries want advanced chip manufacturing on their own continent is because they are picking a fight with China. Blocking the sale of the most advanced chips and chip production equipment to China.
Seems the incompetent western leaders still haven't figured out that their dominant position that lasted centuries is coming to an end. And their stupid behavior is only accelerating that process. Already costing us unnessesary expenditures.
XP-200
I hope Germany says nein! lol
H83
If they say no, plenty of others will say yes...
aufkrawall2
Except that China has no access to TSMC, even troubled Intel US fabs are way ahead vs. Chinese ones and measures by "the west" to exclude them hurt China badly (at least in that particular sector).
Reardan
yeah wouldn't want anything crazy like an advanced manufacturing industry in your country
XP-200
Did no one get my play on words.......nein.....nine.....as in nine billion...........tough room these days. Lol
aufkrawall2
I guess it'll come down to whether Pat underestimates Olaf's lategame, that guy tends to frustrate his opponents so much by being stubborn that they give in in the end.
