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Intel Invests Additional $15 Billion In Israeli Chip Facility

Intel’s huge investment comes in addition to the $10 billion already committed by the well-known processor company back in 2019.

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intel invests additional $15 billion in israeli chip facility
Intel

On Sunday, Israel’s Ministry of Finance announced that the country had reached a new agreement with processor giant Intel that will see $25 billion of investment go towards an updated chip-making facility in Kiryat Gat.

The investment adds another $15 billion on top of the $10 billion earmarked for the proposed factory back in 2019, after the global COVID pandemic delayed construction. The new facility will be significantly more advanced than in the original plans, forming part of a larger production site known as Megafab.

Intel hasn’t yet commented directly on the investment details, but a press release was quick to praise Israeli expertise: “Israel is a global center of technical talent and innovation and one of Intel’s significant global manufacturing and R&D centers. Since its establishment in 1974, Intel Israel has played a crucial role in Intel’s global success. Our intention to expand manufacturing capacity in Israel is driven by our commitment to meeting future manufacturing needs and supporting Intel’s IDM 2.0 strategy, and we appreciate the continued support of the Israeli government”.

Also Read: Dubai Hospital Delivery Drone Completes Successful First Trial

Formal approval of the new agreement is expected to happen in a few weeks as Intel ramps up its international efforts to expand worldwide production capacity. According to a press release from the Israeli finance ministry, thousands of additional technicians will be required in Kiryat Gat, with Intel offering higher wages than the industry average. Additionally, the processor company has agreed to increase its tax obligations from 5% to 7.5%. Intel aims to close the investment deal and commence plant operations by 2027, operating the complex until at least 2035.

As manufacturers like Apple opt to develop their own processor architectures, Intel increasingly needs to adapt to a changing global market worth trillions of dollars. The company’s recent investment in Israel comes shortly after announcing a $4.6 billion deal to build a chip assembly and testing facility in Warsaw, Poland, and joins existing manufacturing facilities in Ireland and Germany.

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PowerSchool Launches Arab Version Of Its EdTech Platform

The cloud-based solution is now available to Middle Eastern users, helping schools with administrative, communication, and classroom workflows.

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powerschool launches arab version of its edtech platform

PowerSchool, a leading cloud-based education software provider, today announced the launch of newly translated and localized solutions for the UAE and wider Gulf Coast and Middle East region.

Native-Arabic speaking educators will now be able to accomplish critical administrative, communication and classroom workflows using newly-updated Arabic translations, as well as access a right-to-left oriented interface, Hijri calendar overlay, and more.

PowerSchool’s platform is able to log student records and create reports in their native language, while teachers can now create enhanced, personalized lessons for their students and digital forms for parents.

powerschool edtech arabic interface

Finally, PowerSchool’s multi-language AI-powered assistant is also in development, and the company plans to launch the tool in the Middle East in the near future.

“With the UAE and other GCC countries prioritizing digital transformation in education, we are pleased to announce the availability of our educational and operational products in Arabic,” revealed Stewart Monk, Senior Vice President & General Manager, International at PowerSchool. “This also aligns with our commitment to provide mission-critical support to education leaders to provide personalized learning for students globally”.

Also Read: Top Free AI Chatbots Available In The Middle East

Along with the launch of a new Dubai office in 2023, PowerSchool seems highly invested in localized Arabic products. The latest announcement from the company strongly signals its commitment to the Middle East and GCC, and comes after the publication of its 2024 Education Focus Report, which takes a deep dive into the region’s education trends and developments.

“PowerSchool’s commitment to providing Arabic localization across its products reflects an understanding of their diverse user base and their commitment to inclusivity,” explained Mohammed Essam, PowerSchool Lead at ESOL Education. “This investment can lead to closer collaboration with educational institutions in the Middle East, fostering innovation and progress in the education sector. Overall, this is a promising direction that could benefit both PowerSchool and the educational community in the region”.

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