(NASDAQ: INTC) stock gained ground in Wednesday's trading. The semiconductor company's share price ended the daily session up 2.5%, according to data from S&P Global Market Intelligence.
News emerged today that Intel is planning to build a new chip fabrication plant in Ireland. According to the reports, the semiconductor specialist is looking to secure $2 billion in funding from outside investors before moving ahead with the project.
Intel already has a manufacturing plant and a research facility in Ireland, and it's not surprising to hear that the company is looking to build a new fab location in the country. The semiconductor company is making moves to ramp up its fabrication capabilities and is already planning to build new manufacturing hubs in the U.S., Germany, and Israel. Additionally, operating in Ireland offers some substantial tax benefits.
Source Fool.com