Intel, Brookfield to Invest up to $30 Billion in Arizona Chip Factories
Intel Corp. and Canada’s Brookfield Asset Management on Tuesday agreed to jointly fund up to $30 billion for the U.S. chipmaker’s leading-edge chip factories in Arizona, fueling Intel’s ambition to bring more chip production onshore without weighing on its balance sheet.
Brookfield’s infrastructure affiliate will invest up to $15 billion for a 49 percent stake in the expansion project, while Intel will retain majority ownership and operating control of the two chip factories meant to make advanced chips in Chandler, Arizona.
The investment is an expansion of an agreement signed by Intel and Brookfield in February to explore finance options to help fund new Intel manufacturing sites….