Intel commits $5 billion to expand chip fab in Ireland

Intel announced a $5 billion investment to expand its Fab 34 facility in Ireland on its Intel 3 process node. The move comes about a year after CEO Lip-Bu Tan canceled Intel's planned €30 billion fab complex in Magdeburg, Germany, and a related plant in Poland.

Why it matters: The investment signals Intel doubling down on European chip manufacturing after retreating from a larger, now-cancelled expansion.