TRG | The Bottom Line – 8/20

What do Intel and concrete trucks have in common? Both are in high demand! Intel’s new CEO Pat Gelsinger recently made a few strong opinions on heavy materials, saying in regards to the company’s targets of erecting new U.S./EU plants for chip production capacity, “I have more cement [concrete] trucks working for me than I think any other person on the planet.” In the U.S., Intel is investing $23.5B for new factories in Arizona and New Mexico and nearing completion of a $3B expansion in Oregon. Intel is evaluating sites in other states, including New York and North Carolina. Gelsinger told French TV that Intel plans for European capacity expansion would cost $100B over 10 years. Chips and cement, who knew – just remember you can’t manufacture a chip without rocks and cement!