Intel cancels construction of new development center in Israel
Intel has always had a development center in Israel, which has undertaken a considerable part of the technology research and development work. Last year, it demonstrated a new generation of Thunderbolt ports for the first time at the development center in Haifa, which can achieve a data transfer rate of up to 80 Gbps.
At the beginning of 2021, CEO Pat Gelsinger went to the development center in Israel not long after he became the CEO of Intel and then made an expansion plan in May to build a new development center (IDC21) covering an area of several thousand square meters, including advanced laboratories, auditoriums, green belts, sports venues, and restaurants, etc., located in the Matam Science and Technology Park in Haifa, not far from Intel’s original facility (IDC9).
Intel, Haifa credit: Intel
As the crisis of the recession intensified, Intel began to shrink its own business and reduce costs at the same time. When Intel announced its financial report for the third quarter of 2022 last year, it announced a plan for cost reduction and efficiency improvement. From now until 2025, it can cut costs by up to $10 billion. In recent months, Intel has delayed plans for Magdeburg, canceled some construction projects in Oregon and India, and apparently also affected projects in Haifa, Israel.
