LONDON Intel Corp. is set to invest more than $1 billion over the next five years to expand its operations in India and in local technology companies, online reports said Monday, referencing Intel Chairman Craig Barrett speaking in New Delhi, as their source.
The $1 billion includes a $250 million venture capital fund commitment (see Monday (Dec. 5) story).
Intel (Santa Clara, Calif.) plans to spend $800 million to expand its research and development center in Bangalore, an Associated Press report quoted Barrett as saying. Bangalore is Intel’s India technology hub, where it employs some 3,000 engineers to develop, the report also said.
Intel’s rival, Advanced Micro Devices Inc., announced last week that it was in discussions with SemIndia, a grouping of successful Indian entrepreneurs that intends to build India’s first significant commercial wafer fab to operate as an independent foundry (see Wednesday (Nov. 30) story).