Intel suspends some investment projects in Europe, focusing on Ireland and Poland

Intel recently announced that due to "financial losses", they will suspend several important investment projects in Europe, including wafer fabs in Italy and R&D facilities in France. The company will turn its focus to investments in Ireland and Poland. Intel CEO Pat Gelsinger proposed the IDM 2.0 strategy in 2021, kicking off a wave of global capacity construction. Although there may be losses in the short term, he believes that this will bring prosperity in the long run. However, due to large investments in U.S. production capacity and increased production of products at the latest nodes, the company's profits have fallen sharply. The 2023 financial report shows that Intel's revenue fell 14% year-on-year to US$54.2 billion, net profit fell 79% year-on-year to US$1.7 billion, and adjusted profit also fell 36% year-on-year to US$4.4 billion.