Intel to invest $7B in Arizona factory

By Ovunc Kutlu

NEW YORK (AA) – Computer chip maker Intel will invest $7 billion to create 3,000 U.S. jobs, CEO Brian Krzanich said Wednesday.

Nanometer chips will be produced in an Arizona factory and will be "the most powerful computer chips on the planet," Krzanich said at the White House after meeting with President Donald Trump.

The investment will go to the completion of the Fab 42 facility that is expected to be the most advanced semiconductor factory in the world, according to a statement by Intel. The factory is expected to be completed within three to four years.

"Our factories support jobs -- high-wage, high-tech manufacturing jobs that are the economic engines of the states where they are located," Krzanich said in the statement.

Trump thanked Krzanich in a Twitter message and noted "A great investment ($7 BILLION) in American INNOVATION and JOBS!"

Intel was one of 97 American companies that last Sunday filed a court motion against Trump's ban on immigration, citing a violation of the Constitution and immigration laws.