The Blubber

Per Reuters

Intel, like other tech companies, is trying to become more aggressive in expansion and with this, they have decided to expand into Israel, with plans of a $25 billion new factory. This factory is said to be open in 2027 through 2035 and has been announced by the country's Prime Minister Benjamin Netanyahu.

The Prime Minister of Israel described this investment as the "largest ever international investment in the country." This comes as the new factory is set to create thousands of jobs for Israelis.

The deal includes a 7.5% tax rate, which was up from Israel's current 5%, according to the country's Finance Ministry. Intel has already been in operation in the country for over five decades, but now, the company is taking its growth to new levels.

Intel released a statement regarding its operations in Israel and how they were important for the company's success.

"Our intention to expand manufacturing capacity in Israel is driven by our commitment to meeting future manufacturing needs ... and we appreciate the continued support of the Israeli government,"

Other US companies are already expanding internationally, with Amazon planning to scale its cloud infrastructure in India with a budget of $12.7 billion. Another example is Apple, which plans a $700 million plant also in India as it tried to lessen its reliance on China.

See flow at unusualwhales.com/flow.

Other News:

• Amazon plans to scale investments in India with a budget of $12.7 billion for cloud infrastructure by 2030
• Apple, AAPL, iPhone maker Foxconn plans $700 million plant in India, in shift away from China

Resources:

Reuters