Intel doling out $3.5 billion for New Mexico fab upgrade, among other big spends

It’s upgrade time for Intel’s Rio Rancho, New Mexico fab.

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What you need to know

Intel CEO Pat Gelsinger made an appearance onCBS' 60 Minuteson May 2 to discuss the semiconductor crisis (viaCNET). During the appearance, it was confirmed that Intel’s Rio Rancho, New Mexico fab facility is due for a $3.5 billion upgrade. It was also announced that the company would hold a news conference at 12 p.m. ET / 9 a.m. PT on Monday, May 3 (that’s today), giving more updates on the Rio Rancho plans.

Here’s the blurbIntelcurrently offers regarding details on the upcoming conference, including a list of who will be in attendance:

On Monday, Intel will hold a live news conference regarding a new investment at its Rio Rancho, New Mexico, manufacturing facility. Keyvan Esfarjani, Intel senior vice president and general manager of Manufacturing and Operations, will be joined for an update in New Mexico by Gov. Michelle Lujan Grisham, U.S. Sen. Martin Heinrich, U.S. Sen. Ben Ray Luján and U.S. Rep. Teresa Leger Fernandez.

You can watch the conference live via theIntel Newsroom.

Intel’s spending spree isn’t slowing down anytime soon, from the looks of things. Between its$20 billion planfor all-new investments and its plans to upgrade existing sites to helpexpand its market shareand combat theglobal semiconductor shortage, the company seems ready to dig deep into its pockets to take necessary action.

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Robert Carnevale is the News Editor for Windows Central. He’s a big fan of Kinect (it lives on in his heart), Sonic the Hedgehog, and the legendary intersection of those two titans, Sonic Free Riders. He is the author ofCold War 2395. Have a useful tip? Send it to robert.carnevale@futurenet.com.