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Intel Invests Additional $15 Billion In Israeli Chip Facility
Intel’s huge investment comes in addition to the $10 billion already committed by the well-known processor company back in 2019.
On Sunday, Israel’s Ministry of Finance announced that the country had reached a new agreement with processor giant Intel that will see $25 billion of investment go towards an updated chip-making facility in Kiryat Gat.
The investment adds another $15 billion on top of the $10 billion earmarked for the proposed factory back in 2019, after the global COVID pandemic delayed construction. The new facility will be significantly more advanced than in the original plans, forming part of a larger production site known as Megafab.
Intel hasn’t yet commented directly on the investment details, but a press release was quick to praise Israeli expertise: “Israel is a global center of technical talent and innovation and one of Intel’s significant global manufacturing and R&D centers. Since its establishment in 1974, Intel Israel has played a crucial role in Intel’s global success. Our intention to expand manufacturing capacity in Israel is driven by our commitment to meeting future manufacturing needs and supporting Intel’s IDM 2.0 strategy, and we appreciate the continued support of the Israeli government”.
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Formal approval of the new agreement is expected to happen in a few weeks as Intel ramps up its international efforts to expand worldwide production capacity. According to a press release from the Israeli finance ministry, thousands of additional technicians will be required in Kiryat Gat, with Intel offering higher wages than the industry average. Additionally, the processor company has agreed to increase its tax obligations from 5% to 7.5%. Intel aims to close the investment deal and commence plant operations by 2027, operating the complex until at least 2035.
As manufacturers like Apple opt to develop their own processor architectures, Intel increasingly needs to adapt to a changing global market worth trillions of dollars. The company’s recent investment in Israel comes shortly after announcing a $4.6 billion deal to build a chip assembly and testing facility in Warsaw, Poland, and joins existing manufacturing facilities in Ireland and Germany.
News
Samsung Smart Glasses Teased For January, Software Reveal Imminent
According to Korean sources, the new wearable will launch alongside the Galaxy S25, with the accompanying software platform unveiled this December.
Samsung appears poised to introduce its highly anticipated smart glasses in January 2025, alongside the launch of the Galaxy S25. According to sources in Korea, the company will first reveal the accompanying software platform later this month.
As per a report from Yonhap News, Samsung’s unveiling strategy for the smart glasses echoes its approach with the Galaxy Ring earlier this year. The January showcase won’t constitute a full product launch but will likely feature teaser visuals at the Galaxy S25 event. A more detailed rollout could follow in subsequent months.
Just in: Samsung is set to unveil a prototype of its augmented reality (AR) glasses, currently in development, during the Galaxy S25 Unpacked event early next year, likely in the form of videos or images.
Additionally, prior to revealing the prototype, Samsung plans to introduce…
— Jukanlosreve (@Jukanlosreve) December 3, 2024
The Galaxy Ring, for example, debuted in January via a short presentation during Samsung’s Unpacked event. The full product unveiling came later at MWC in February, and the final release followed in July. Samsung seems to be adopting a similar phased approach with its smart glasses, which are expected to hit the market in the third quarter of 2025.
A Collaborative Software Effort
Samsung’s partnership with Google has played a key role in developing the smart glasses’ software. This collaboration was first announced in February 2023, with the device set to run on an Android-based platform. In July, the companies reiterated their plans to deliver an extended reality (XR) platform by the end of the year. The software specifics for the XR device are expected to be unveiled before the end of December.
Reports suggest that the smart glasses will resemble Ray-Ban Meta smart glasses in functionality. They won’t include a display but will weigh approximately 50 grams, emphasizing a lightweight, user-friendly design.
Feature Set And Compatibility
The glasses are rumored to integrate Google’s Gemini technology, alongside features like gesture recognition and potential payment capabilities. Samsung aims to create a seamless user experience by integrating the glasses with its broader Galaxy ecosystem, starting with the Galaxy S25, slated for release on January 22.
Samsung Smart Glasses Teased For January, Software Reveal Imminent
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