Dominant PC chip manufacturer Intel today announced a US$7 billion investment in a new semiconductor plant. The announcement was made from the White House Oval Office with chief executive Brian Krzanich standing next to President Donald Trump.
Intel has shored up its growth strategies by buying rival chipmaker Altera as it looks to expand into new market segments, primarily the burgeoning Internet of Things (IoT) market.
The automotive, LED lighting and home consumer segments are predicted to drive a large part of growth of 30% in the semiconductor device portion of the global Internet of Things semi-conductor market over the next five years.
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