Singapore Startup To Invest €3.2 Billion in Italy Chips Factory.

Singapore startup Silicon Box will invest €3.2 billion ($3.5 billion) in Italy to build a chip factory in the north of the country. The move is aimed at creating a more resilient supply chain for semiconductors in Europe. The chiplet production plant is expected to generate 1,600 jobs at full capacity. This announcement comes after the Italian government failed to convince US-based chip-maker Intel Corp to invest in Italy. Silicon Box recently closed a $200 million financing round, bringing its valuation to over $1 billion. Europe and the US are both looking to increase their national output of chips to reduce reliance on Asian facilities and avoid supply shortages. [Extracted from the article]