Broadcom invests $1 billion in chip plan

According to information from Lansheng Technology on July 10, Charlie Kawwas, president of the semiconductor solutions business unit of Broadcom, the US chip giant, said that Broadcom will invest in a plan supported by the European Union to increase semiconductor production capacity in Spain.

Kawwas said in a tweet on Thursday: "Glad to announce that we have decided to invest in Spain's semiconductor ecosystem in accordance with Spain's semiconductor support plan and the principles of the EU chip law." Kawwas also thanked Spanish Prime Minister Sanchez for his commitment to building a resilient The support and decisiveness of the global semiconductor value chain.

Spain's Economy Ministry said Broadcom would be involved in the project, which could be worth $1 billion. However, Broadcom did not provide details on the amount of the investment. The economy ministry added that the plan would include building "a large back-end semiconductor facility unique in Europe". The location has not yet been determined.

It is understood that the Spanish government plans to allocate up to 12 billion euros (about 13 billion U.S. dollars) from the EU's epidemic relief fund to subsidize the development of the semiconductor industry. Before Broadcom, the Spanish government had revealed that Cisco planned to open a new chip design center in Barcelona.

Countries are now stepping up preparations to increase the supply of semiconductors after recent supply chain issues. Earlier this week, EU Internal Market Commissioner Thierry Breton highlighted further semiconductor cooperation with Japan.

In June of this year, the US technology company Intel announced plans to build chip factories in Germany and Poland, which is part of the company's plan to invest US$88 billion in Europe in the next few years to increase semiconductor production capacity.

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