As the United States races to grow its domestic semiconductor manufacturing base—and to end to its reliance on chips made in Asia—Intel has formed an unprecedented partnership with Brookfield Asset Management to fund a $30B expansion of Intel's US chip fab facilities.
The semiconductor giant will maintain operational control of the partnership by contributing 51% of the funding, while Toronto-based Brookfield will contribute 49%, according to a statement issued jointly by the companies this week.
The joint statement said Intel and Brookfield's Infrastructure division will evenly share the revenue generated by new or expanded chip fabs funded by the venture. The deal is expected to close by the end of the year.
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